BHP’s top economist says Chinese President Xi Jinping’s ideological grip over state-owned enterprises risks damaging the Asian superpower and could exacerbate its decline in the second half of this century.
BHP vice president Huw McKay blames ideologically driven leaders for botching China’s recovery from the COVID-19 pandemic last year, criticises the role of state-owned enterprises, or SOEs, and questions whether Chinese science can catch up to the West because it suffers from “invasive state oversight” and may be corrupted by extensive fraud.
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Aaron Patrick is the senior correspondent. He writes about politics and business from the Sydney newsroom. Email Aaron at apatrick@afr.com
Michael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com
