By 2050, and as a consequence of the deep and persistent world debt crisis, kleptocracies had to sell-out large parts of state-controlled sectors of the economy, losing their grip over resources and clientele. Dictatorships were swept away, and the world economy was rebuilt from the bottom-up through transnational systems of economic governance and the introduction of regional currencies. As the Chinese economic model suffers a major crisis, economic liberals and value conservatives in the Communist Party compete openly for power in general elections.