Biden administration detects red flags in Xiconomics

Biden administration detects red flags in Xiconomics

Something's not right in China. U.S. President Joe Biden hammered on that point Sunday while in Vietnam. "One of the major economic tenets of [President Xi Jinping's] plan isn't working at all right now," he said, raising eyebrows.
 
His use of the word "tenet" is especially interesting.
 
Xi's three predecessors attached importance to the "reform and opening-up" policy, which led to sky-high growth. Xi's signature "common prosperity" policy, on the other hand, emphasizes the correcting of disparities.
 
Biden seemed to be suggesting that some elements of Xi's economic plan -- based on "Xi Jinping's economic thought" -- have failed. But he was only picking up where U.S. Ambassador to Japan Rahm Emanuel left off. Days earlier, Emanuel posted a controversial tweet on the disappearances of China's defense minister and other officials.
 
Biden's and Emanuel's jibes appear to suggest that the U.S. administration has gained insight into some likely chaos in China's internal affairs.