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.

Chinese President Xi Jinping has consolidated and centralised power in a way that his immediate past predecessors had not.  PHOTO: EPA-EFE
New: Gift this subscriber-only story to your friends and family

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”.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.