But it was most likely wise to remove all the excess bureaucracy. Nearly every president in China worked on this platform as well. The question is, did he accidentally remove important functions of the economy at the same time? Looking the spiking poverty rate and depression, I'd say yes.
When China undertook their SOE reforms in 90s they had massive growth occurring at the same time to offset these losses.
Once you destroy your human capital like how Argentina is doing right now there is no coming back.
Look at those cuts, they are beyond rational - it's ideological in nature. A few years from now there won't be a discussion on Argentina it would turn out to be a total wreck.
