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Very insightful discussion. Especially the idea of a future ‘prairie fire’ that an older Xi can’t control. Regarding State Capitalism, China is very hungry for more foreign capital, and is welcoming foreign stock and bond investors into its onshore markets. With asset managers like BlackRock free to manage money for Chinese nationals, this could eventually produce more dry kindling for a future fire. As for a coherent China strategy from the West, the USA really needs to get its own economic and political house in order first. Otherwise, it can’t offer a strong counterpoint to Xi’s China.

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