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Radio Free Asia: Beijing’s Internal Documents Ask: “Tighten Your Belts”

Radio Free Asia reported on November 22, citing its own sources, that the Chinese Communist Party recently distributed an internal document to mid-level and above government agencies, asking them to prepare for the worst situations due to the ongoing trade war. The document told Chinese officials to follow the leadership of the CCP and rely on China’s own efforts in order to overcome the difficulties.

Different sources also pointed to the increased social panic due to the deterioration of the economic situation. The document also predicted that some Chinese companies will close down, that the stock market and the property market will fluctuate, and that social conflicts will arise.

“A number of observers pointed out that the domestic economy has continued to deteriorate while pressure from home and abroad has increased. Despite personally leading the team, Xi Jinping failed to achieve anything at the recently concluded APEC summit. The government is feeling the pressure. At the same time, it also shows that Chinese officials are pessimistic about the upcoming China-US summit.”

Source: Radio Free Asia, November 22, 2018