Xi Jinping Struggles to Control China’s Economy and Avoid Chaos

Central bank cuts interest rates to maintain stability

Workers load steel products for export to a cargo ship at a port in Lianyungang, Jiangsu Province, China, on May 27, 2020. China Daily via Reuters

News Analysis

While the U.S. Federal Reserve and other central banks in the developed world are preparing to curb high inflation by winding down pandemic stimulus and raising interest rates, Chinese leader Xi Jinping is attempting to stimulate China’s economy, as he fears public unrest.