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Comment by at-fates-hands | Hacker News Reader

>> Whether or not you like the US stock market, it is fairly transparent and not run by the whims of the government.

This.

This will be China's undoing. The hardest thing to try and control are open market forces - which China is clearly controlling and attempting to manipulate, with disastrous results.

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CCP cares way more about maintaining control than in ensuring stability. I'm sure they have plans in place to shut the whole market down if they decide it needs to be done.

Stability is arguably the preferable method to retain control.

ie, Mandate of Heaven. https://en.wikipedia.org/wiki/Mandate_of_Heaven

> CCP cares way more about maintaining control than in ensuring stability.

That may be true. But I think they also see lack of stability as threatening their ability to remain in control. So in practice, they care a great deal about stability.

They have other ways of maintaining stability. Ways they have been relying on for decades before there ever were viable financial markets. They can simply fall back on those.

I wonder if that's true. The people are used to high growth and a steadily increasing standard of living. If the CCP decides to go back to Mao's playbook they'll likely have a revolution on their hands.

The CCP is absolutely massive in terms of what percentage of its people are party office-holders. They have unprecedented levels of control over all aspects of Chinese life.

Revolutions grow out of revolts. Revolts grow out of riots. CCP is remarkably adept at managing riots. For riots to grow, you need revolutionaries to amass power. CCP is remarkably adept at policing this kind of action too.

The CCP isn't going away anytime soon. Xi Jinping has way more to fear from intra-party power struggles than from grassroots activism.

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