Victor Shih

I mean, there are different periods.

Sometimes, you know, there's a little bit more autonomy.

So, you know, sort of from 2000 to – until recently, until 2020 –

The localities gain more autonomy vis-a-vis land sales.

So that's when the real estate market was going very well.

Even though they couldn't control the tax revenue, they could control the land revenue.

But then the central government basically killed the land market in 2022.

And now I think localities in China are highly dependent on the central government.

Yeah, Marxist thoughts.

So the former premier of China, Li Keqiang, his undergraduate degree, I think, was economics.

And he studied under one of the best economists in China.

So I think he understood economics.

So I would say in the Politburo today, there is this wing of the Politburo who are military industrialists who were trained as engineers.

And they indeed were trained in the best programs in China.

So Ma Xingrui, the party secretary of Xinjiang, for example –

in the Politburo, you know, graduated from Tsinghua University.

Zhang Guoqing also, who worked in the military industry for years, I don't know if it's Tsinghua, one of the other top science programs in China.

So they know a lot about science, but does that mean that they know a lot about governing?

I mean, I think it's a somewhat different question.

But then you also have other cases like Ding Xuesheng, right?