Prominent Chinese Economic Advisor Goes Missing
Chinese economic issues are being kept under wraps by the authorities, as they aim to conceal these problems from the general public. Critics who speak out are met with harsh consequences. As per internal sources, prominent economist Zhu Hengpeng is currently under investigation. It's been reported that he was removed from his positions following allegations of criticizing China's second-largest economy's leadership, headed by President Xi Jinping, in a secretive WeChat chat group.
Zhu had served as deputy director of the Institute of Economics at the Chinese Academy of Social Sciences for a decade, a prominent position in one of China's foremost think tanks. The Chinese Communist Party has been intensifying its efforts to stifle negative remarks regarding the country's economic situation. The economy is showing signs of weakness, affected by a slide in the property market and weak consumer and business confidence.
Some economists propose that Xi's initiatives to increase government control, curb perceived capitalist excesses, and safeguard China from perceived foreign threats are worsening these issues. Under Xi's leadership, the party has become more assertive in silencing dissent and punishing critics of its policies, whether they be within or outside the party.
Arrest of Zhu in the spring
The authorities have also tightened their grip on data and limited investors' and analysts' access to crucial economic information. According to a source, Zhu was detained in the spring after making some non-politically charged comments in a private group, among them expressing worries about China's struggling economy and delivering veiled criticisms of Xi.
The economist Zhu Hengpeng, who was detained in the spring, had previously served as deputy director of a prominent think tank in China, the Institute of Economics at the Chinese Academy of Social Sciences. Despite being under investigation by the authorities, Zhu had allegedly criticized China's second-largest economy's leadership, led by President Xi Jinping, within a secretive WeChat chat group.
