In the West, we are constantly told that China is in deep trouble. Its zero-COVID policy has failed; the economy has slowed to a halt; it now has a falling and fast-aging population; and it is heading for permanent, low-productivity growth stagnation as in Japan. Xi’s leadership is in crisis as he flails about swinging from one policy to another. All this is the standard Western propaganda line. In truth, China has two problems. It has allowed capitalist speculators great freedom over the last 10 years and now must rein them in. In addition, the working classes are not represented in China. The problem in the West is that finance capital is more out of control and workers’ unions are only 10% of the workforce.
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