Evidence has been mounting in recent months that the Chinese leadership may be implementing a hard pivot toward asserting greater state control of society and the economy. In the months following Beijings surprise November 2020 decision to block Alibabas Ant Group from listing on the Shanghai and Hong Kong stock exchanges, Chinese authorities have launched a widening series of crackdowns on technology giants, wealthy individuals, education services providers, celebrities, and even youth video gamers. Restraints on Beijings interventions in society and the economy have become harder to identify.
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