søndag 27. januar 2019

China goes into ‘risk’ mode as tech war escalates

Risk management is the new buzz phrase echoing around the corridors of power in Beijing. At the end of a four-day study session, leading Communist Party cadres from across China were told of the “tough battle” ahead. “Officials [must] go all out to do a good job of major risk prevention,” Wang Huning, the CCP’s ideology guru, said during Thursday’s closing address, according to the state-run Xinhua news agency. “Bottom-line thinking [would be required] and [you] must prepare for the worst-case [scenario],” he added.

His comments at the ideological talkfest in Beijing reinforced Monday’s opening speech by President Xi Jinping about the dangers of “financial risks” and the fall-out from the trade war with the United States.