Unlike liberal democracies, Beijing has more room to act in crisis. China has extractive institutions that will ultimately be a growth limiting factor, but I don't see it limiting their crisis responses.
* There will be no political gridlock between left and right that can be solved only with half measures. Decisions are done in small groups of 30 people at most, with several hundred people having some influence.
* They don't have ideological fear of meddling with the markets or private property. It's all about being practical.
Beijing can make mistakes when handling the crisis. After they realize their error, they can take as big hammer as needed to fix it.
* There will be no political gridlock between left and right that can be solved only with half measures. Decisions are done in small groups of 30 people at most, with several hundred people having some influence.
* They don't have ideological fear of meddling with the markets or private property. It's all about being practical.
Beijing can make mistakes when handling the crisis. After they realize their error, they can take as big hammer as needed to fix it.