The longstanding perception created by Communist rulers that they are always ultimately in charge takes a battering from feral capitalism

China’s president, Xi Jinping, is putting a great deal of effort into projecting an image as the country’s most powerful leader since Mao Zedong. Much of Beijing shut down over the weekend as scores of troops, tanks and other military vehicles streamed into the country’s capital to rehearse for an impending military parade.

But just a day after images of the country’s immense state power flooded Chinese social media, they were filled with news of a staggering plummet on the country’s stock exchanges. The government’s efforts to prop up stock prices in the world’s second largest economy hit a brick wall on Monday, as stocks suffered their biggest fall since 2007, when state intervention into the country’s bourses failed.

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Source: The Guardian Circular Economy RSS