Day 1,686: supplant, exhort, enviable, reap

China’s government, for its part, hoped to professionalise its markets in order to attract foreign capital and expertise, and to build an asset class to supplant property. A cohort of wealthy businesspeople and investors were emerging who had been exhorted by Mr Xi himself to live the China dream.

China would continue to grow at an enviable pace, its citizens would still put wealth and economic stability above political freedoms, and foreign investors would reap handsome returns.

Has Xi Jinping lost control of the markets?

Artwork of the day 
Priests Exhorting the Crusaders
Gustave Dore
Style: Romanticism
Series: Bibliotheque des Croisades
Genre: illustration

Word of the day 
supplant: to replace:
exhort: to strongly encourage or try to persuade someone to do something:
enviable: If someone is in an enviable situation, you wishyou were also in that situation:
reap: to get something, usually something good, as a result of your actions or other people's actions:

Quote of the day
“Democracy will never be supplanted by a republic of experts—and that is a very good thing.”

― Thomas Piketty, Capital in the Twenty-First Century