Douglas Carr writes about Xi Jinping’s mismanagement of China’s economy:

Between 1953 and 1978, a quarter-century when Mao and Maoists were in charge, real Chinese growth averaged 4.4 percent, well below other developing Asian economies. (Note the dramatic drop during the period of the Great Leap Forward, perhaps the perfect example of Maoist economic policy.) Deng and his chosen successors averaged 6.9 percent growth from 1979 to 2012, while Xi has attained 4.2 percent since 2013 and is expected to average 3 percent or less going forward with dramatic working-age population shrinkage.
Xi is following the wrong path for China, reverting to centralized state control and social leveling, somewhat more typical of Mao (although it would be a mistake to think of Xi’s economic policies as a full reversion to Maoism) than Deng’s liberation of a private sector and belief that “to get rich is glorious.”

Read the whole thing here.