Commentary
Chinese leader Xi Jinping must feel like he is playing a game of whack-a-mole. After years of easy political, economic, and diplomatic gains, he has more recently had to deal with a series of problems, one popping up after another.
His draconian COVID-19 policies have set back the economy and now have given rise to public discontent.
For over a year, China has had to cope with cascading financial strains set loose by the failure of the real estate giant Evergrande, a serious matter to which Beijing has only recently and belatedly responded.
It has become increasingly clear in recent months that the once-vaunted Belt and Road Initiative (BRI, also known as “One Belt, One Road”) faces financial problems that raise questions about its viability. And if that were not enough, rates of terrorism along the BRI have also begun to increase costs and add to worries about viability….