The crisis also includes growing unemployment among young people. The promise of prosperity, a central pillar for the Communist Party to remain in power, could crumble. How will China react?
If the government is less and less able to keep the promise of prosperity, it could mobilize all the more nationalistic feelings. Increasing threats against the USA and external appearances such as at the BRICS summit will only help.
Also read: Stop denying reality!
China is in favor of expanding the BRICS group, and 23 countries have already expressed their concrete interest, including Saudi Arabia and the Emirates, Argentina, Indonesia, Egypt and Ethiopia. Who would benefit most from this?
China and therefore Xi is also pushing ahead with expansion. As the economically strongest country, China wants to gather a group around it from which it then expects allegiance and loyalty in international bodies and conflicts – because the more allies there are, the more pressure China can put on the West, which in turn can exert potential new members as part of its de-risking strategy.