Why Xi is Quietly Re-Nationalising China’s Economy
Economic Development VideoSummary
This TLDR New Global video explores how China’s economic strategy is subtly shifting under Xi Jinping’s leadership, as the country pivots back to stronger state involvement to reverse decades of market reforms. China’s economy can be split into three periods: first, a “command” economy from 1950-1976 under Mao Zedong’s leadership, which left 800 million people in poverty; then, a shift to a more market-oriented economy (“Chinese Marketization”) in 1976 under Deng Xiaoping, which fostered rapid growth and a thriving private sector that supported these people out of poverty; to today’s “mixed ownership” economy under XI Jinping. With recent economic challenges—like weakened demand, shrinking private investment, and stricter policies—Xi’s government is leaning more heavily on state-owned enterprises. Xi’s preference for “mixed ownership” over outright privatization marks a sharp pivot, signaling the regime's intent to reassert control, stabilize growth, and rebalance focus on the public sector—even at the cost of private sector vitality.