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But China wants its people to feel wealthy. The property boom ended, then there was gold boom. They wanted a stock boom. People that feel wealthy are happy citi
by justinhj 11y ago
But China wants its people to feel wealthy. The property boom ended, then there was gold boom. They wanted a stock boom. People that feel wealthy are happy citizens. They have every reason to keep the stock market high.
- mooreds 11y agoThe current government doesn't want to lose the Mandate of Heaven: https://en.wikipedia.org/wiki/Mandate_of_Heaven https://en.wikipedia.org/wiki/Mandate_of_Heaven They know their history.
- duaneb 11y agoI mean, you could say the same thing every year for any ruling party for the past millenium. I'm not convinced it's at all relevant to the conversation any more than any government beholden to its people.
- mooreds 11y agoI think the Chinese tradition of accepted regular popular revolt makes this possibility weigh more heavily on the communist party's collective mind than, say, that of the Indian ruling party.