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Why China may resort to more policy U-turns
China is no stranger to sudden major policy reversals such as the one on Covid-19. Pragmatism and party legitimacy are key drivers for the sudden changes.
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Chinese President Xi Jinping has consolidated and centralised power in a way that his immediate past predecessors had not.
PHOTO: EPA-EFE
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BEIJING - At the World Economic Forum in Davos earlier in January, Chinese Vice-Premier Liu He declared that after three years of pandemic isolation, China was open for business.
In a message that cheered the world’s business elite, Mr Liu said foreign investors had an “important role” to play in driving China’s development, and the country’s door to the world would “only open wider”.
