Chaguan Patriotism before profit

摘要

FOUR DECADES after China emerged from Maoist isolation, mystery surrounds some big questions about its rulers' views of the world. Start with a topical one: what are the true feelings of China's leader, President Xi Jinping, towards Western-style shareholder capitalism, with its emphasis on free competition, transparency, separation between ownership and management, and oversight by impartial regulators and courts? Listen to speeches aimed at foreign audiences, and China is an example to the capitalist world. It is presented as a champion of openness and fair play, defending free trade against populist nationalists who have fantasies of turning back the forces of globalisation. Yet at home Mr Xi spends as much time stressing national self-reliance, urging Chinese firms, officials and scientists to end their country's dependence on foreign technologies.