China’s Xi calls for wealth redistribution and clampdown on high incomes(ft.com)
ft.com
China’s Xi calls for wealth redistribution and clampdown on high incomes
https://www.ft.com/content/87c3aa02-f970-48c8-b795-82768c9f7634
5 comments
Xi is of course not including the humungous wealth and incomes of his high party comrades. Though I've read he leverages his knowledge of these to consolidate his personal control.
Cite?
* There are different levels of "humungous." In Soviet-style countries, party members were "rich" in the sense of having a few times the resources of a typical citizen (e.g. 5x). In the US, the rich might have $100B, while the poor might have $20k in assets (non-liquid -- counting things like a car and a TV). That's 5,000,000x times richer.
* There are a few directions of causality. The CCP might be corrupt, leading to leaders becoming rich. The CCP might be recruiting rich people. People becoming rich might have joined the CCP since it makes live easier. Etc.
I'm not disputing your facts, but I would like to understand them better. There's a lot of nuance there.
* There are different levels of "humungous." In Soviet-style countries, party members were "rich" in the sense of having a few times the resources of a typical citizen (e.g. 5x). In the US, the rich might have $100B, while the poor might have $20k in assets (non-liquid -- counting things like a car and a TV). That's 5,000,000x times richer.
* There are a few directions of causality. The CCP might be corrupt, leading to leaders becoming rich. The CCP might be recruiting rich people. People becoming rich might have joined the CCP since it makes live easier. Etc.
I'm not disputing your facts, but I would like to understand them better. There's a lot of nuance there.
So Xi is backing away from capitalism and free enterprise?
Seems like he is opening up an opportunity for the rest of the world to compete with China.
Seems like he is opening up an opportunity for the rest of the world to compete with China.
Anyone with money in China has been trying to get it out for years. This has lead to a great deal of real estate purchases around the world, which is well documented as well as pouring money into markets around the world.
I am American and am definitely not pro-china. That being the case can't really blame the people at all for getting their money out. Any rational well off person who had concerns about their government would reasonably try and get their money out. My ancestors left their homeland after WW1 as they thought the political climate was not moving in a direction that would benefit them or their family.
I think the desire to go someplace better is a natural human tendency across all cultures, most are unable or even many of those that are are unwilling out of fear.
I am American and am definitely not pro-china. That being the case can't really blame the people at all for getting their money out. Any rational well off person who had concerns about their government would reasonably try and get their money out. My ancestors left their homeland after WW1 as they thought the political climate was not moving in a direction that would benefit them or their family.
I think the desire to go someplace better is a natural human tendency across all cultures, most are unable or even many of those that are are unwilling out of fear.
Freedom with Chinese characteristics.