Written by Hiroki Takeuchi.
President Xi Jinping’s fierce anti-corruption campaign has been one of his signature reform policies since his inauguration as General Secretary of the Chinese Communist Party (CCP) in 2012. The campaign seemed to be the right policy to secure the future of the Party. Official corruption has been rampant in China and has become one of the major sources of public dissatisfaction. The CCP leadership has feared that corruption, if left unaddressed, could undermine the stability of one-party rule. Perhaps ironically, however, the success of Xi’s campaign has itself undermined the basis of one-party rule. Continue reading “Fiscal Starvation: The Unintended Consequences of Xi Jinping’s Anti-Corruption Campaign”