China’s Talk of ‘Two Unwaverings’ Reveals Private Sector Fears
- Leaders pledge stimultaneous support for state, private firms
- Phrase highlights unsettled political question in economy
Chinese President Xi Jinping
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Chinese state media can act as a mirror for official anxiety. The things they say are going fine are sometimes the things they’re most worried about.
Take the flurry of Communist Party propaganda this week professing China’s commitment to the “two unwaverings.” The phrase -- meaning unwavering support for private companies, as well as state-owned ones -- has proliferated since Chinese President Xi Jinping employed it earlier this week in a letter to entrepreneurs. The party’s People’s Daily newspaper, Guangming Daily journal and the influential Study Times have all rolled out the “two unwaverings” in recent days.