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Xi Jinping Sinks Chinese Stocks

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Xi Jinping Sinks Chinese Stocks
Chinese President Xi Jinping (L) looks on as former President Hu Jintao is helped to leave early from the closing session of the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, on Oct. 22, 2022. Kevin Frayer/Getty Images
J.G. Collins
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The markets have shown China’s leader Xi Jinping that embracing authoritarian leadership and surrounding oneself with  obsequious “yes” men tends not to encourage investor confidence.

On Monday, the stock prices of some of China’s leading outward-looking companies like Alibaba and Tencent sunk by 11 percent in a single day. From Oct. 24 to Oct. 25, EST, the Hang Seng Index graph looked like an Olympic skiing slalom course, dropping an incredible 1,200 points, from about 16,200 to 15,000—nearly 7.4 percent—in just 19 hours.
J.G. Collins
J.G. Collins
Author
J.G. Collins is managing director of the Stuyvesant Square Consultancy, a strategic advisory, market survey, and consulting firm in New York. His writings on economics, trade, politics, and public policy have appeared in Forbes, the New York Post, Crain’s New York Business, The Hill, The American Conservative, and other publications.
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