Consensus-driven leadership in pre-Xi China created investor confidence that certain outcomes (like property market collapse) were unlikely because actors had veto power over decisions.
causalpending
Speaker
Logan WrightEvidence Quote
“people did not think that financial risks were likely within the Chinese system because basically the government didn't want political instability. So, local governments, if you thought that the this was very common in the 2010s, you would hear the property market cannot collapse in China because local governments depend on it.”
Created: 8/12/2026, 6:32:13 PM
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