Beidaihe break over; Li Qiang chairs meeting; Economy worries; Direct stimulus to consumers unlikely; Health sector corruption

We are back from our whirlwind tour of UK universities. As always after a break it is hard to know where to start, and I always miss more than usual, so I appreciate your patience as I catch up.

There is still no public sign of Xi but the Beidaihe break is over, as signaled by Premier Li Qiang’s reappearance on CCTV chairing a State Council plenary meeting. I expect Xi will reappear Thursday or Friday, if past precedent for the Beidaihe break holds.

It is not clear how much relaxation the top leadership got over the last couple of weeks, given the massive flooding in late July and into August, the worsening economic data apparent and fears among some observers of growing risks of a financial crisis.

The PRC is long overdue for a National Financial Work Conference.

Summary of today’s Essential Eight:

1. Li Qiang signals worries with plenary meeting of the State Council -Premier Li Qiang reappeared on CCTV Wednesday, chairing the second plenary meeting of the State Council. Li held his fi…