‘Princelings’ in China Use Family Ties to Gain Riches

The authorities are eager to paint the fallen official Bo Xilai, whose family has a substantial fortune, as a rogue operator. But other officials’ relatives have also amassed vast wealth.
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India,though touted to be the largest democracy in the world,is not much different in this respect. Powerful bureaucrats and politicians as well as their relatives have amassed wealth illegally over the decades since the country's independence in 1947.China is not alone in this kind of predicament.

5 2016-08-26 07:49:00 - beholder

No surprise. That's the Chinese culture for thousand of years, no matter what the political system is. Don't expect that to change anytime soon. Those who believe otherwise are just delusional.

1 2016-08-24 11:56:25 - Jim

The CCP rules by carrot and stick. The carrots are the goodies that the CCP spreads out to its loyalists. The sticks are the legions of goons who intimidate and imprison anybody with the audacity to criticize CCP rule. There is no longer any ideology underpinning, and their rule is little more than a 40 million member mafia crime family.

7 2016-07-11 01:11:49 - SCB

Here they try to outspend you, there, they shoot you.

Are you SURE we're defeating them in the race for political greed, or do you just have your values completely upside down? Our recent political struggles, to my knowledge, don't leave corpses in the streets. Unless of course there is something our peerless leaders haven't been mentioning.

Of course, our citizens shoot back, that always has had a remarkable restraining effect on governments where its been possible. The only reason the Magna Carta was written was Yew, string, and yard long shafts. Ink only came into the picture when iron wouldn't work.

0 2016-07-05 06:04:13 - S.Evans

The chinese system seems to be state tyranny plus crony capitalism. I'm very sorry for the people. But many seem very brave, and the system has improved since under Mao. I wish the people well.

2 2016-06-23 05:25:50 - keefie

Except in America, when those sweetheart deals come to light- there is a chance that something will happen to the offenders, In China, not so much.

4 2016-06-20 20:35:43 - Ian N

The Chinese Communist Party is a brutal regime that has murdered 80 million of its own people since 1949 and now is attempting the genocide of tens of millions of innocent Falun Gong practitioners by the use of torture, slavery, organ harvesting and murder.
It is a gangster regime, one of its higher members just held a beauty contest for his twenty or so mistresses and another so called princeling just paid 20 million for an apartment in Paris for his mistress. The poor pay up to twelve different taxes and the rich pay not one. We are all kept in the dark about the cruelty of the Party because of corporate greed. It is about time North Americans went back to good things like cherishing human rights instead of being concerned with making a fast dollar over someone else's suffering. This is just my understanding, thank you.

6 2016-06-13 18:13:36 - jeff

So much for everyone's equal and shares the wealth ;and "workers of the world unite". This is more like "All animals are equal, but some animals are more equal than others". Of course, in the United States, this is where we are heading. China is already a capitalist oligarchy; with limited rights for its citizens. The United States, continues to reduce rights and is well on the path to oligarchy. And, we actually have more people incarcerated, percentage wise, than China.

So, what is the difference here? A one party state or a two party state, where both parties are pretty much the same. At least, in China, there is unity and a single political agenda. In the United States, the parties use a "divide and conquer strategy", but are no different from Chinese politicians.

And what is the political agenda, to make the wealthy more wealthy and to reduce the wealth of the working class. The United States is going backwards and China is moving forward.

54 2016-06-04 14:57:15 - Nick Metrowsky

Why focus on China? Simple. As the US Empire falls to its own greed, corruption and chronism, they have to point the finger at someone else (oddly, in this case, it happens to be their rightful owners) in order to divert attention from their own mess. It's an old trick.

6 2016-06-01 18:48:55 - John Darling

Thanks for this elucidating article, some great journalism in there, considering how difficult it is to get info on this subject. The reality is even much worse. Keep digging!

24 2016-05-15 08:19:31 - Doublecreek

Harriet, in the United States, they just make empty apologies and find a scapegoat to serve prison time. And, if someone does something really bad, they make their empty apology and leave the United States, giving up citizenship and take their wealth with them. One right they would not have in China. Though, Charles Schumer is trying to block this loophole and then China will be on par with United States; restricting freedom of movement of US citizens outside the country. It will be only a matter of time that this restriction of movement, for "national security" reasons, is done within the United States. This will be needed as the masses become more and more agitated.

2 2016-05-06 15:32:24 - Nick Metrowsky

Marx had little to say on post Communist societies because there hadn't been one, nor on post socialist societies because no socialist society survives long beyond the clan level.

Beyond the clan level commerce requires a medium of exchange and thus arbitrage and thus capitalism is born. When the medium of exchange is no longer viable and no commodity medium is introduced to replace it then the medium of exchange in inevitably replaced by a fiat currency, creating an Imperial period. When faith in the Empire falls apart we return to a state of anarchy until a new medium of exchange is accepted, at which point capitalism returns.

State sponsored socialism is merely a temporary impression given by an Imperial system in order to try to hide its true nature. All such systems are Imperial in nature. Some actually have de facto Emperors.

Socialism WAS attempted in one of the first colonization efforts in North America, and it failed so badly it almost destroyed the colony, after which they rewrote the rules favoring a capitalist approach, and thrived. Of course the differences in individual wealth at the BEGINNING of a capitalist phase are not nearly so stark as they are at the end of the Imperial phase.

1 2016-05-01 09:01:14 - S.Evans

Perhaps not now, but when the wealthy continue to grow in wealth and the poor no longer have jobs or food, the Occupy movements will look sophomoric in comparison.

1 2016-04-29 09:59:29 - Darlene Hunter

This is utterly outrageous and they must be stopped immediately. How dare the Chinese do exactly as the Americans do. Don't they know by now that greed and corruption doesn't work?

13 2016-04-28 20:58:08 - John Darling

Sounds just like the USA, I guess now their brightest students will become Investment Bankers instead of Doctors or Enginers.

49 2016-04-28 05:12:45 - Jack

Their brightest students come here, hello!

0 2016-04-27 10:26:44 - asaucy12

I really don't have a problem with the system the way it is in China. China's ex-leaders and families had created many ties that they are now using to bring commerce into China. It may not sound fair, but someone's got to do it. Are they going to hold elections to determine who will develop commerce in China?

2 2016-04-18 06:44:52 - BBo Enter

The wealthest individuals in China are people like Robin Li of Baidu and Jack Ma of Alibaba and other, retailiers, developers, technocrats and industrialist who have built their own companies and wealth from the ground up. These are the folks that startout with nothing more than good ideas and intelligence and they are very little connected to the Chinese elite at the outset of the developement of their business plans. Human progess associated with large scale wealth creation is so plastic and fluid that it trickles into everyone lives to some degree and does so often in very suprising and unpredicatable ways. Elites and the children of elites are as a general rule often formely better educated in the arts of wealth creation than others and thus become more closely recoganized as being associated with the monied caste in all nations that I know about. Ken C. Arnold Santa Monica, CA

4 2016-04-05 02:41:09 - Ken C. Arnold

2018 will be the year to watch!!!!! Thank you!!!

1 2016-03-26 23:26:38 - rex maxwell

Now, they're just being capitalists, maximizing their profits.

And that automatically creates the best outcomes for everybody, don't you know.

Why, look at the evidence. Around the world, capitalists are creating the best outcomes ever. So let's all applaud the wealthy, God bless 'em, and more tax cuts (and worker cuts) all round.

4 2016-03-19 19:21:23 - jb

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