Economic news

Late Chinese reformist leader’s birthday stirs calls for bolder reform

2024.08.22 09:55

BEIJING (Reuters) – Some Chinese economists called for bolder reforms on Thursday, the birthday of late reformist leader Deng Xiaoping, with several comments censored amid the authorities’ increased sensitivity to criticism of economic policy.

Thursday marks the 120th birthday of Deng, who unleashed historic reforms in 1978 to allow more private enterprise and opened the economy to foreign investment, paving the way for decades of breakneck growth.

At an agenda-setting meeting last month, China’s leaders unveiled reforms that some experts say do not go far enough to boost private-sector confidence and the flagging economy.

A critical article by one of China’s most prominent liberal economists and a professor at Peking University, Zhang Weiying, was twice deleted by Chinese internet censors on Thursday, after being widely circulated on social network WeChat.

The article, originally published in 2018 and recirculated on Thursday, praised Deng for his courage to embrace market forces at the cost of state planning and act boldly on reforms while trying to “cross the river by feeling the stones”.

Its tone reflects broader disappointment among China’s liberal economists over the slow pace of reforms. Others, in articles which have not been taken down, also used the Deng anniversary to air their reformist views.

“China has once again come to a crossroads in history,” Wang Zhigang, an economist with a think tank, said in an article posted online.

“Only by thoroughly reviewing, sorting out, and inheriting Deng’s legacy and carrying forward the past and opening up the future can we best commemorate Xiaoping and this great era.”

In a speech published on state-run Xinhua news agency, President Xi Jinping hailed Deng as the “chief architect of China’s socialist reform, opening up, and modernisation”.

© Reuters. FILE PHOTO: Visitors stand in front of a screen showing late Chinese leader Deng Xiaoping at an exhibition marking the 40th anniversary of China's reform and opening-up at the National Museum of China in Beijing, China November 14, 2018. REUTERS/Thomas Peter/File Photo

On social media platform Weibo (NASDAQ:), trending hashtags related to Deng’s birthday received a combined 50 million views as of Thursday afternoon. The vast majority of posts were state media and government offices posting tributes to his life. 

Deng died in 1997 at age 92.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 103,628.77 0.90%
ethereum
Ethereum (ETH) $ 2,653.85 7.64%
xrp
XRP (XRP) $ 2.58 3.19%
tether
Tether (USDT) $ 1.00 0.00%
bnb
BNB (BNB) $ 659.46 1.38%
solana
Solana (SOL) $ 181.67 5.78%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.238031 6.07%
cardano
Cardano (ADA) $ 0.820882 3.50%
tron
TRON (TRX) $ 0.2758 4.98%
staked-ether
Lido Staked Ether (STETH) $ 2,651.14 7.62%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 103,659.77 0.98%
sui
Sui (SUI) $ 3.99 0.85%
chainlink
Chainlink (LINK) $ 17.22 4.76%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,183.79 7.30%
avalanche-2
Avalanche (AVAX) $ 26.11 7.36%
stellar
Stellar (XLM) $ 0.31261 2.55%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 5.45%
hedera-hashgraph
Hedera (HBAR) $ 0.213902 3.20%
hyperliquid
Hyperliquid (HYPE) $ 25.78 4.75%
pi-network
Pi Network (PI) $ 1.20 6.59%
the-open-network
Toncoin (TON) $ 3.38 2.70%
leo-token
LEO Token (LEO) $ 8.82 2.66%
bitcoin-cash
Bitcoin Cash (BCH) $ 407.59 2.29%
litecoin
Litecoin (LTC) $ 104.44 1.50%
polkadot
Polkadot (DOT) $ 5.16 3.57%
weth
WETH (WETH) $ 2,651.48 7.51%
usds
USDS (USDS) $ 1.00 0.01%
monero
Monero (XMR) $ 341.87 0.11%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,828.85 7.43%
pepe
Pepe (PEPE) $ 0.000014 4.47%
bitget-token
Bitget Token (BGB) $ 4.84 3.04%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.01%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.08%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 103,691.78 1.00%
whitebit
WhiteBIT Coin (WBT) $ 30.09 0.34%
uniswap
Uniswap (UNI) $ 6.82 2.41%
bittensor
Bittensor (TAO) $ 463.26 1.22%
near
NEAR Protocol (NEAR) $ 3.20 4.78%
aptos
Aptos (APT) $ 6.04 6.41%
dai
Dai (DAI) $ 1.00 0.02%
aave
Aave (AAVE) $ 233.44 8.08%
okb
OKB (OKB) $ 54.67 1.44%
ondo-finance
Ondo (ONDO) $ 1.03 2.92%
kaspa
Kaspa (KAS) $ 0.122116 7.01%
internet-computer
Internet Computer (ICP) $ 5.88 5.36%
ethereum-classic
Ethereum Classic (ETC) $ 20.38 5.13%
crypto-com-chain
Cronos (CRO) $ 0.102818 4.55%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
tokenize-xchange
Tokenize Xchange (TKX) $ 36.34 8.35%