China mulls a bold test of taxation without representation
With revenue declining, its leaders must figure out how to collect more money
CHAIRMAN MAO ZEDONG was a fan of meetings. “Whenever problems arise, call a meeting,” he wrote in 1949. “Place problems on the table.” Otherwise, he warned, they can drag on for years. A tableful of problems now beset China’s economy, including deflation, debt distress and demographic decline. A property slump has eroded confidence and hurt the land sales that help finance local governments. China also faces growing opposition from trading partners, who are limiting what they sell and buy from a country they now count as a geopolitical rival.
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This article appeared in the China section of the print edition under the headline “In need of a lift”
From the May 4th 2024 edition
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Trump, trade and feeding China’s pigs
As a trade war looms, China looks to cut its reliance on America
Helping America’s hawks get inside the head of Xi Jinping
China’s leader is a risk-taker. How far will he go in confronting America?
Snuffing out the flame of freedom in Hong Kong
Dozens of pro-democracy activists are thrown into jail for up to a decade
China’s greatest dumpling run
A big gathering of young cyclists is ended by officials
A spate of horrific car-rammings shakes China
They are known as “revenge on society” attacks
Mega-polluter China believes it is a climate saviour
It accounts for almost 40% of global investment in clean energy
