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Xi Jinping is a True Believer
What’s New: Lingling Wei at the Wall Street Journal offers some insightful reporting on how and why the Chinese Communist Party (CCP) is cracking down on many of the country’s most prosperous companies — including its tech champions.
Why This Matters: “In Mr. Xi’s opinion, private capital now has been allowed to run amok, menacing the party’s legitimacy,” says the story. “…He is trying forcefully to get China back to the vision of Mao Zedong, who saw capitalism as a transitory phase on the road to socialism.”