David Shambaugh

“Military equipment is now being deployed to the islands, breaking a public promise Xi gave to President Obama in 2016 and providing China with potential power projection capability deep into Southeast Asia for the first time. Xi’s signature Belt and Road Initiative,123 while primarily economic in nature, does also have geostrategic implications for expanded Chinese influence and potential use of naval port facilities along the entire Indian Ocean littoral.”
― David Shambaugh, China's Leaders: From Mao to Now

“stockpiling of goods, runs on banks, and widespread urban discontent. This put Zhao seriously on the political defensive and under attack from the conservative Old Guard. Over the summer of 1988 a comprehensive plan to control inflation and stabilize the overheated economy was worked out by senior leaders Yao Yilin and Li Peng, as well as State Council think tank economists—which was presented to the Third Plenum of the Thirteenth Central Committee in September. As a result, prices were frozen, foreign trade was recentralized, a very tight fiscal policy forced on state banks, investment controls were put in place, and capital construction halted. Zhao himself came in for six-and-a-half hours of harsh criticism and was forced to make a self-criticism. This was the all-important backdrop to the dramatic demonstrations of the spring of 1989 (which were triggered by economic discontent as much as by political demands). Among the many other economic reforms stimulated during Deng’s tenure, two others deserve brief mention. The first concerned changes in the ownership structure, and the second concerned efforts to establish a regulatory structure (as distinct from an administrative structure) for qualitative oversight of economic activity. With regard to the first, a key part of creating the hybrid state-collective-private economy that Deng and his colleagues envisioned necessitated the creation of truly private enterprises and private ownership.56 Citizens in both rural and urban areas were permitted to purchase long-term leaseholds on property (often their homes) and to pass it from generation to generation. Another example of”
― David Shambaugh, China's Leaders: From Mao to Now