On Italian TV, TgCom24, we talked about the constitution change in China. Electoral Democracy or Good Government? Among the many things discussed, I stress the following points of view:
- The average Chinese citizen does not care about being able to vote. What he cares about is that political leaders, no matter how they are chosen, bring economic and social growth
- The extension of the mandate to President Xi may, my view may be unusual, be positive because it brings stability and political continuity, which is what investors are looking for
- Extending the mandate will allow China to continue the reform process, without feeling the pressure of the end of the mandate approaching. Reforms are often painful in the short term and the benefits are seen only over time. This is the fundamental reason why China progress on and we, in Europe, are stuck in the present.