 "xi jinping")
In most countries, a slowing economy and a sinking stock market would put some heat on politicians. Not in China. A working class that numbers more than 400 million has President Xi’s back.
Under his presidency, China’s economic policies are favoring workers more than at any other time in recent decades. One doesn’t need to look far for evidence. Since 2015, the People’s Bank of China has showered 3.3 trillion yuan ($475 billion) of helicopter money on shanty-town redevelopments. As much as 60 percent of that money went as cash settlements to poorer households.
By now, loans to policy banks for shanty-town
