What if china is going bad? Since early last year I have been asking people inside and outside China versions of this question. By “bad” I don’t mean morally. Moral and ethical factors obviously matter in foreign policy, but I’m talking about something different.
Nor is the question mainly about economics, although for China the short-term stability and long-term improvement of jobs, wages, and living standards are fundamental to the government’s survival. Under China’s single-party Communist arrangement, sustained economic failure would naturally raise questions about the system as a whole, as it did in the Soviet Union. True, modern China’s economic performance even during its slowdowns is like the Soviet Union’s during its booms. But the absence of a political outlet for dissatisfaction is similar. Source