China Cracks Down on Finance Sector: Purges and Pay Cuts to Curb Capitalist Excess
2025-01-14
The Wall Street Journal on MSN.com
In a bid to curb capitalist excess, China's finance sector is undergoing a significant overhaul, with President Xi's campaign leading to the departure of internationally experienced financiers. A new generation of loyal functionaries is taking the reins, marking a shift towards tighter government control. This move is expected to have far-reaching implications for the global economy, with potential impacts on investment and trade. As China's economic policies continue to evolve, the finance sector is bracing for change, with keywords like 'financial regulation' and 'economic reform' becoming increasingly relevant.
