Norobiik @[email protected]

#China’s once-thriving economy, which encouraged aspiration, is now sluggish. #XiJinping has become wary of #PersonalWealth and the challenges of widening #Inequality.

Crackdowns on #billionaires and #businesses, from #RealEstate to #Technology to #Finance, have been accompanied by socialist-style messaging on enduring hardship and striving for China’s prosperity.

How China’s crackdown turned finance high-flyers into ‘rats’
https://www.bbc.com/news/articles/crl8xee75wgo

How Xi’s crackdown turned China’s finance high-flyers into ‘rats’

Chinese authorities have been cracking down on businesses from real estate to technology to finance.

Oct 13, 2024 at 5:15amWeb
Show threadmike805Oct 13, 2024
@Norobiik Hang the kulaks all over again.
Show threadNorobiik @[email protected]Oct 14, 2024
@mike805 Dark shadows of China's past back when the Red Guard held absolute sway over many, many lives. But then again, Xi is trying to pull the country back to it's past - just like Putin.