Xi's ability to rapidly overturn existing consensus has left investors in the dark.
Books written by Chinese President Xi Jinping are shown at the Museum of the Communist Party of China in Beijing. Credit: Yomiuri Shimbun/AP Images
The Chinese government has given global investors a series of unpleasant surprises in recent weeks, with several unexpected announcements causing market sell-offs, primarily in tech stocks. Some have argued that investors should have been better prepared, given that the areas affected — including data privacy, online gaming and private tutoring — have long been of concern to policy makers in Beijing.
But the reality is that central government policy-making has become extremely diffi
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