All Hail Chinese Emperor Xi Jinping: Will He 'Make China Great Again'?

Tyler Durden's picture

Authored by Mike Shedlock via,

At the nineteenth Communist Party meeting, Chinese president Xi Jinping consolidated his hold on power.

But can he make China great again? What would it take?

New Yorker columnist Jiayang Fan notes At the Communist Party Congress, Xi Jinping Plays the Emperor.

Perhaps no event embodies the unyielding abstruseness and the unforgiving hierarchy of China’s ruling Communist Party as much as its Party Congress, the government’s most important leadership conference. Attended by some twenty-three hundred delegates from across the country, it is held every five years in Beijing’s Great Hall of the People—and when the weeklong meeting finally begins, one can be certain that the crucial politicking has already concluded. What proceeds is a choreographed spectacle bearing fastidiously scripted speeches, pro-forma elections of what has heretofore been determined (a leadership reshuffle in the seven-member Politburo, the highest echelon of power), and, in the case of the 19th Communist Party Congress, which opened today, high-spirited, propagandistic posters reminding the masses that “Life in China Is Good! Everyday Is Like a Holiday!”


This is a message that Xi Jinping, who was appointed President at the previous Party Congress, in 2012, is eager to instill in a country that continues to grapple with a vertiginous pace of change and the outsize influence of politics in everyday life. Xi is almost certainly guaranteed another five-year term, if not longer. Since taking office, he has sought to launch the greatest ideological campaign since the days of Mao.


Xi has made clear from the outset, he is intent on both defining a new world order and restoring to Chinese culture its former esteem.


Yet Xi’s mission should be regarded in the context of a collective and profound post-traumatic stress disorder, the result of almost two centuries of cataclysmic events in China. For every Tang Taizong, who ushered in the golden years of the Tang Dynasty, there were many others like Empress Dowager Cixi, who usurped the throne, crippled the path of progress, and contributed to the downfall of the Qing Dynasty.


As Xi made clear today, during his three-hour address to the Party Congress, he sees this moment as “a new historic juncture in China’s development”—and himself as the man to seize it. He seems to believe that the more power he amasses, the easier it will be for him to enact the kind of monumental changes necessary to transform China into the world’s leading superpower. In this sense, he is positioning himself as a savior with a cause noble enough to justify his autocratic turn. The logic is akin to that which animated the ambition of many of the Middle Kingdom’s five-hundred-odd emperors. Sure, Xi has rerouted all tributaries of power to run upstream to him, but isn’t it in the service of rejuvenation?


Xi has also used his growing power to curb that of his citizens. Under his rule, China has become increasingly repressive. The media is censored and civil society has been muted. Activists have been silenced and human-rights lawyers arrested. More than a million officials have been disciplined. Despite paying lip service to the constitution—the Party devoted an entire plenary session during the 18th Congress to a discussion of “judicial independence”—Xi is steering the country away from the rule of law and toward the rule of the Party.


Xi’s vision for China’s future suggests a great leap backward, in which old lessons remain unlearned.


A paradigm change is indeed underway, but it will be led by cars (autonomous driving and electrification), demographics (aging boomers), the demise of pension plans, a revolt by millennials, and a squashing of the current political class.

A currency crisis is inevitable but it's too soon to say that gold will be back in the picture. Some suggest SDRs, but I dismiss that idea.

King dollar is certainly not dead yet, and contrary to popular belief, having the reserve currency is more of a curse than a blessing.

Why Dollar is King

  • The dollar is king because the US has open capital markets, property rights, and the world's biggest bond markets.

  • The US also has a Bill of Rights granting freedom of speech and protection from unwarranted searches. China imprisons people for speaking their mind.

  • China is a long way from competing with the US on those important issues. In addition, China repeatedly resorts to capital controls to stop monetary flight.

China will not supplant the US for at least two decades and may not ever.

I expounded on the topic in Marc Faber Banned from CNBC. Here are a few snips.

What Made the US Great?

The Constitution's Bill of Rights is what makes the US great. There is nothing else like it in the world. It's a unique constitution put together by a unique set of educated lawyers and other scholars.

The First Amendment grants freedom of speech and freedom of the press.

That's what enables Faber to say what he did. And that's a good thing, whether you agree with him or not! China imprisons or kills people for saying something the state disagrees with. Numerous countries in Europe would fine Faber for such remarks.

The First Amendment prohibits state-sponsored religion. Many Republicans who allegedly want a strict constitution, ought to take a closer look. School prayer does not fit in.

Democrats might wish to consider the Second Amendment.

Everyone should appreciate the right to be secure in their home. That's the Fourth Amendment.

The Sixth Amendment grants a speedy trial.

Reader Comments

The subject came up a third time today. In response to the above articles, reader Brindu had this to say:

Hello Mish


In your section "What Makes the US Great", you used the points made earlier in " King Dollar". This will be very educational for readers who normally don't dwell on constitutional issues.


I have another point worth adding: "A credible, independent and impartial court system accessible to all.".


To illustrate how the Constitution and the Bill of Rights worked real time, I reflected back to Nixon and the Watergate era (1972-74). Many of your readers were too young to remember or not even born. Here is a summary of relevant events showing how the points you listed under "What makes the US Great?" worked in actual practice.


  1. Daniel Ellsberg leaked the Pentagon Papers to the NYT. Nixon went to court to stop publication, but the judge ruled against Nixon, saying there was no threat to national security. The NYT published the Pentagon papers in its entirety, This is a classic example of the first amendment at work. Many foreign leaders asked why Nixon did not shut down the press. (The UK has something called the Official Secrets Act and can shut down newspapers).

  2. Nixon's aides broke into Ellsberg's psychiatrist's office looking for dirt. They went to jail. This is a classic example of the 4th amendment at work.

  3. Judge John Sirica systematically sent a dozen or more Nixon's aides (Haldeman, Erlichman, Dean etc.) to jail as Nixon watched helplessly. Again, foreigners, unfamiliar with the US separation of powers asked why Nixon just did not throw Judge Sirica in jail. Imagine a judge acting independently in China or in Erdogan's Turkey? This is a classic example of an independent judiciary at work.


The parliamentary systems in Europe and Canada are inferior in protecting individual rights like our Bill of Rights. Under parliamentary law, the UK can shut down newspapers. They can wiretap, open mail without a warrant. There is no double jeopardy- in some places, they can try you again and again on the same charge even if you are acquitted.


At one time, Australia did not allow its citizens to own foreign accounts. The UK, in the 1960's has capital outflow due to 90%+ marginal taxes. Folks were mailing British pounds abroad and the Government scanned outgoing mail to intercept this.


Like you said, "The Constitution's Bill of Rights is what makes the US great. There is nothing else like it in the world."

US Dollar Not Dead Yet

Chinese history speaks for itself. Absolute power in the hands of a man whose actions are rubber-stamped by a mock-up Congress will not make China great.

Wake me up when China has a Bill of Rights granting freedom of speech and protection from unwarranted searches.

Add an independent judiciary, a free-floating currency, and the world's largest bond market to the list of China needs.

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IridiumRebel's picture

Why do they still have the hammer and scickle? Robots and serfs do their farming now.

Juggernaut x2's picture

Just like everything China does even their brand of Communism is a bunch of half-assed, mediocre BS 

philipat's picture

"Wake me up when China has a Bill of Rights granting freedom of speech and protection from unwarranted searches."


Wake me up when the US returns to using its Bill of Rights and Constitution?

Golden Breakout's picture

Wake me up before joo go go.

07564111's picture

Mike Shylock will type another shill article and give you the word..

giovanni_f's picture

China knows that in a few deacdes the world will look entirely different. The US foolishly believes  it will will call the shots forever. This will accelerate its demise.

Alok's picture

yes... anyway, it's too late to complain...   the author should do this when the American elites send the jobs to China to pay less salary and become richer...




SoDamnMad's picture

Why does everything out of China look like something that was first available in Germany, the Scndanavian countries or the US?

Can you spell I N T E L L E C T U A L    P R O P E R T Y  ?

Alok's picture

the west did the same when they arrive in China for the very first time... don't cry, please...

Arnold's picture

Marco Polo stole the spaghetti, and script for money.
You gave the the Dynasty game away to the west.

Librarian's picture

If we consider a 20% currency devaluation to be "great again", then yes, JinYang will make it "great again".

tyberious's picture

Wake me up when USA enforces the Bill of Rights granting freedom of speech and enforces the protection from unwarranted searches.

Add an independent judiciary, a free-floating currency, and the world's largest un-manipulated  bond market to the list of America's needs.


There I fixed it for you!

WallHoo's picture

Yeah...Let the currency float "freely" and the bond market in the hands of usurers...What could go wrong in a debt-based system...


China and the eurozone(cuck-land germany) will continue to laugh all the way to the bank while youre money are drained and youre assets are bought,in effect making you rent-serfs.


The zios are changing the base of operation and i assume they are setting up shop in europe,unless there are chinsese jews...

SuperRay's picture

Wake me up when the first ten amendments to the constitution are actually taken seriously again.

Blue Steel 309's picture

Is Mish completely unaware the relationship between race, behavior, and culture?

Juggernaut x2's picture

Mish doesn't want to end up like Marc Faber when Faber pointed out the obvious about the different races.

herkomilchen's picture

Wake me up when China has a Bill of Rights granting freedom of speech and protection from unwarranted searches

Right.  Pieces of paper do so much to rein in government.  Words on paper would be very effective at stopping leviathan-armed authoritarian rulers.  Men who arrogate for themselves the exclusive purview to interpret when, where, and how any words apply, if at all.

Maybe a Chinese constitution could even add some words about a fundamental right to bear arms.  That way its citizens could rest assured possessing and carrying any type of weapon anywhere could never be outlawed by government.  Just like how that works in the US.

fangulos's picture

Bill of Rights???

What ZH readers based from? Boomer generation?

Any sane person still believe bill of rights deserves what the 'authority' dishes out, when the judical system is penetrated by a devil-worshiping clan who put their own tribe's interests above all and has a hostile death wish against white racel, words on paper is nuffin'

Dead Canary's picture

Oh yea. Ming the Mercyfullnessless...less...less

Pliskin's picture

I have two t-shirts; one that says 'Holocaust denier and proud' and the other has the Hezbollah flag on the front, with the wording 'Freedom fighters'...

Hey, Mike, can I wear these T's while walking aroung NY or LA or any other major city in the U.S. (or Europe)???

Freedom of speech, don't talk shit, man!

Pliskin's picture the way, what hapened to Marc faber recentley when he decided to use his 'Freedom of speech'??

What happened to Ken Livinstone when he used his freedom of speech?

What happened to that 96 year old woman in Germany recentley when she decided to use her freedom of speech?

The list is endless...

Grow up, Shedlock!

Arnold's picture

Freedom to speak.
Not freedom from consequences.

Golden Breakout's picture

Every government in the world, regardless of ideology, is currently suppressing their people... because they can. God damn them all.

DeathMerchant's picture

The one thing that will allow China to win in the end??? Their lack of an immigration problem and the absence of multiculturalism.

roddy6667's picture

As somebody who lived in the US for 65 years and moved to China, I agree. No country has ever survived without a national culture. The Diversity movement in America has destroyed what was left of a unified American culture. It's the Balkanization of America. 

When China clamps down on people spreading "democracy" and religions that want to destroy China's cultural values, they are protecting their culture. Americans complain about China barring these people while the same factors destroy their country around them.

The overwhelming majority of Chinese people have seen their lives improve year after year. They believe that their leaders are making the right choices for the country. None of this is true in America. Which form of government is working better? 

fangulos's picture

It's hard to explain to bonker head here in zh,, I've worked twice in china, first around 2000, tap water tastes like shit in southern-east, had to boil it , apart from that it's ok. second is much recent in north, water taste better, weather is better in 2nd-tier cities (not Beijing), all in all China is a livable place and mind all readers here, I regard China as a sorta shelter state where we whites can retreat, and finally get back our own. Japs has the tech but lack the land, Korks?They are 2nd-tier japs, chinks have the land, give'em 10 yrs they will have the tech, if Chinese leaders are sane enough they will know the real bloodsuckers are in ME, we whites are loosing our lands in S.Africa, Agentine(once a 85% white country), europe and us is fucked up, don't know why zh readers can't see the BIG picture, if russia and china stands we as white still have a chance to gain our lands back, if not, then farewell

Tarjan's picture

Tossing in my two cents: which is better, having a President (Xi) who controls his Deep State or a President (Trump) who is controlled by/thwarted by his Deep State?


icm63's picture


.." the world's largest bond market"..



Means US markets are CRAP!

Golden Breakout's picture

There are no US markets... all centrally controlled and planned. Welcome to the new era of, as you say, bullshit.

Déjà view's picture

Gosh...what would happen to "Worlds Largest Bond Market" if big three rating agencies do not mark to fantasy...
Mark to Egan-Jones level...better yet...Weiss ratings (JUNK) ...see what happens to ONCE UPON A TIME..."Worlds Largest Bond Market"...

I do not read 'Shillock' anymore...awfully one-sided from someone who derides Illinois...yet remains a resident...

ffed's picture

Las Vegas Shooting HERO and Victim John Jenner gave SCARY LIVE testimony where he states "made wall out of bodies to block bullets!"  HAS gone missing since BEING LINKED by CIA with JESUS CAMPOS in GUN RUNNING for the FBI!!!  WTF ???

zeroboris's picture

Chinese history speaks for itself. Absolute power in the hands of a man whose actions are rubber-stamped by a mock-up Congress will not make China great.

The history of Rome speaks that a real Congress infested by corrupted scum would not make great either.
GodSpeed_00's picture

Communist Party will collapse soon enough.

ThinkAgain's picture

Xi just needs to do gradually a very simple thing to succeed in most of his aims/goals/targets: And China knows this, so they will do. It will cut of the funding of the USA by reducing the global reserve currency supremacy of the USD, leaving room for the currencies of the Global East and Global South (Renminbi and Ruble, but also Rial etc). Delivering a two sided sword (decline of the dominant, rise of the challengers). It will stabilize the global economy (as most of the nations in the Global East and Global South are focused on production and real assets instead of artificial pumping up the value of financial paper).

Posa's picture

Yeah... well the post-war US  Pox Americana has only brought serial genocides from Korea to SE Asia to Central America and now most of the ME burned to the ground and millions of refugees tearing apart "indispensible" US allies in W. Europe.

So babble on about the Bill of Rights... the US is a clear menace to global peace as well as a bankrupt, super-exploitative Imperium. The bankruptcy is self-created, since the degenerate Predator Class that rules over the US has destroyed the productive sector leaving us all living on borrowed time.the underlying theme is that The US Overlords are hellbent of massive depopulation and complete deindustrializatiuon under cover a Global Warming hoax.

By contrast, the Russo-Chinese doesn't have a 1000 overseas military bases, doesn't launch genocidal wars, and offers the world peace and development and econnomic growth with prosperity. Sounds a helluva better choice than the US program...

No one has illusions about life under Putin or Xi...

But the chances of Peace and Prosperity seem much higher under the Silk Road program, than anything the US has to offer.


Dr. Bonzo's picture

China "supplanting" the US. What does that mean? Chinese entertainment media dominating the world the way America's entertain media has done? Never gonna happen. Linguistically Chinese (Putonghwa) is not a language that lends itself to casual learning, or even fun learning for that matter. And with the current political climate in China, China is never going to produce the broad range of content that American or Western media can. Let me know when 300,000 Chinese students-a-year stop going to America and the West sends 300,000 students to China. To study what exactly? How to lie, steal and cheat on exams and term papers. Cause that's the only thing really happening at Chinese universities anyhow.

So what else? China is gonna be a political role model for the rest of the world? How exactly? Ain't gonna happen. Then what? China is gonna dominate economically. Sure. If they can keep their money printing scam afloat for the next 100 years, that might happen.


Chinese GDP might blow everyone out of the water in the years to come. And it won't mean a goddamned thing. Maybe Chinese consumer products will surpass Korean and Japanese consumer products. I'd be skeptical of that. But anyhow... so fucking what.

China gonna surpass the US militarily? What does that mean? Meddling in foreign wars and dispatching little chink soldiers all over the planet to do Chinese bidding? That's not their plan. They even say so.

So what is China going to do exactly. China's already doing what it intends to do. Unchecked aggressive mercantilism mixed in with hideous jingoistic nationalism.

Are we having fun yet?

roddy6667's picture

China IS taking over the worldwide movie business. There is no intention whatsoever to make the movies in the Chinese language. They use American and European actors speaking English in movies written by English speaking writers. They are doing it now. China wants to take over the BUSINESS of making movies.  None of this happens on screen. 

Dr. Bonzo's picture

Still don't get it do ya? You're on MY FUCKING interweb whining about whities. And you keep making my points for me. The commies are buying up Hollywood. LMAO. So what? They're doing it because Hollywood pumps out nothing but swill and drivel or because Hollywood is considered an influential source of entertainment media? You can't have it both ways. So go ahead and make my point for me. Exactly. The Chinese "buying up Hollywood" only demonstrates one fucking thing. They really don't understand how things work in the West. It's not China.

You really still just don't get it. You're on MY interweb yacking in MY language on an economics blog examining the world from OUR worldview attempting to copy the way WE do things. S.M.F.H. Theyr'e not even dominating the concept of how they're going to dominate ffs. Pfffffff. You can't DOMINATE anything if you can't DOMINATE people intellectually, psychologically or emotionally.

You people just. don't. fucking. get. it.

Ya know what. Good.

amanfromMars's picture

Crikey, Dr. Bonzo by name, Capitan Bozo by nature ....... with only sub-prime slap dash slapstick entertainment for edutainment.

Nice one, Dr Bonzo ....... have a nice day. You can find it, can't you, and deliver them too to the masses? 

Go on, say you can, and then go on off on a rant to prove you can't.

Dr. Bonzo's picture

Go on, say you can, and then go on off on a rant to prove you can't.

Hahaha... that's pretty good actually. Btw... you had me at "crikey" ...hahahaha.....

roddy6667's picture

Yes, Hollywood pumps out swill. It is a large part of the Bread and Circuses that mesmerize Americans so they don't do anything constructive. Of course China wants to own that. You just don't get it.

BTW. I am a 69 year old Caucasian male. You sound like angry white trash from a trailer park who drinks too much.

fangulos's picture

Lot of ZH readers just don't get it, China aims to be the etho-state for Chinese, for that matter ALONE it did a descent job & deserves applaud, shall i start with some 'moral-leaders' or 'fine stateman' in the west? Dick Cheney, Tony Blair anyone?

Dr. Bonzo's picture

Hey fucktard.... the commies have stacked up nearly 40 million corpses to get here. It would take the US another 100+ years of assbackward moronic overseas bungling just to achieve near that number of death, destruction and mayhem.

I've been sitting here sniffing Chinese swill for the better part of a decade. Don't come wagging your finger to me about what the commies are or are not up to. China is quite possibly the largest open sewer on planet earth, all because the only thing they know how to do is copy whitey. Communism? They got it from whitey. Marxism? Dot dot dot..... "Capitalism with Chinese characteristics (You work hard, we take all... LMFAO)"..... If they had applied some innovative thinking, creativity and actually created an open economy they could have built themselves a half-decent economy for the money they're spending. Instead, they've built themselves a sewer. One big gigantic sewer. Now... it you're INTO that kind of thing... good on you. But don't come yacking about China becoming the shiny city on the hill, because not only do they not want it, they couldn't conceive of it if they tried.

Now go ahead and downvote me. Ya little girl. I really care about your downvotes. Really. It affects my sleep when I get downotes on ZH. LMFAO.... So go ahead. Oh, and right after your hurtful downvote lands right on my solar plexus, my comment will still be right here. Downvote away.

fangulos's picture

What the fuck is your problem, boomer dotard?

be china a sewer or shithole, I don't give a fuck, I've worked in china twice, now moved back to england, they are taking a leap from a rural ricefield to where they are now, pollutions and corruptions are gurranteed, so big deal? Their stateman looking for Chinese interests, general chinese looking for their family interests, can you loudly say the same in west now? I'm fuckin disgusted with Brit faggots politicians and their handlers, ya know what, China does NOT have it, bet your daughters were busy banging their niqqer pets, ya know what, niqqers are a NONE-exist in china. I'll award anyone whole yr income if they could magically remove kebabs/niqqers/lgbt freaks and so on, step forward sergent dotard?

House_Wife's picture

I would like to contest this. Freedom of speech could be argued to be significantly under attack in the US. Milo's self-funded 'Free Speech Week' at Berkley (apparently considered by some as the home of free speech) was shut down. Individuals expressing views that may be in opposition to those who hold the majority opinion often have their social media accounts blocked. Public figures who express what the masses might judge to be an outlying notion could find themselves uninvited from mainstream media appearances. Some public speakers (often right-wing, such as Ben Shapiro or Anne Coulter) may now need to overcome much more significant barriers to deliver their speeches (protests, security, higher costs) despite there being a demand from people wishing to hear their thoughts.

Yes, China could be argued to oppress free speech to what some might say a large degree. After all, those who speak out against the government might find themselves removed from their abode and placed in a labour camp for an unspecified amount of time. Yet, it might be put forward that the US may not be an excellent example of where they should be heading. 

brushhog's picture

Seth Rich got two in the back of the head for his freedom of speech. Assange, Snowden, and the rest are testaments to how free our speech is. 4th Amendment rights? LOL! They tapped a presidential candidate in hopes of finding dirt on him! Fusion centers, secret courts, patriot act, random traffic stops, etc,etc

Kina's picture

China was comparatively great for many hundreds of years under various dynasties. 

The USA couldn't last 200 years without its system being totally coopted and corrupted and representing only the elite corporations.