The Central Committee of the Communist Party of China recently announced its plans to scrap the two-term limit on its presidency, which would mean that Chinese president Xi Jinping can continue in power after the end of his second term in 2022. This news was largely frowned upon by the Western world and is often explained as a step toward an increasingly totalitarian state. But is this a bad development? Or are these plans understandable from a Chinese perspective?

From a Western democratic

Last week on Monday, the Dow Jones index lost more than a thousand points for the first time in history, a drop of 4.6%. This correction followed a decline in stock prices that had already started on the Friday before, although few investors had anticipated that the index would fall by this much. On Tuesday and Wednesday, stock prices seemed to recover somewhat, but on Thursday the most important indices in the United States fell again considerably.

Last week’s correction seems dramatic, but

At the time of writing, Bitcoin prices reached an all-time high of more than $17,200 dollars, whereas over the past few months the gold price remained close to $1,200 per troy ounce. Moreover, when we have a look at recent data from Google Trends, we can see that “buy bitcoin” has become a more popular search term than “buy gold”. Even the followers of former member of the U.S. House of Representatives Ron Paul (an avid gold bug) have shown in a recent poll on Twitter to prefer Bitcoin over gold as a store of value.