China produced more billionaires than the US this year. The only way they accomplished this is to allow unfettered capitalism which is very evident. There is no going back and the billionaires will be calling the shots before to long. They are just another fascist nation at this point and the fourth/fifth largest producer of weapons to boot.
redwattlebird@lemmings.world 1 hour ago
The difference between Chinese billionaires and American billionaires is that the Chinese ones are owned by the government. To set up any company in China requires part government ownership of, I think, 15%.
There is no way the billionaires are calling the shots, ever, while Xi is in power. As if he would allow what’s happening in America, happen in China.
Remember what happened to the CEO of Alibaba? Jack Ma? When he became rich enough to potentially take over the country?
lechekaflan@lemmy.world 1 hour ago
Much like Putin and the Russian oligarchy, who they either play with him or be shown the window.