Make billionaires scared again.
Rare FT “China good” moment /s
Or so it would be if people wouldn’t personally relate to billionaires for some reason.
I’m sure FT target demographic does, but it’s a great article to send to people who keep talking about China being just like the west.
Rise comrade China, RISE!
Man my brain hurts as I start to read the article and it says that the writer has a chair in the rockfeller institute and wrote a book called what went wrong with capitalism, which is just about the weirdest thing ever
haha right
Honestly this has become the funniest article written to be serious I have ever seen “Oh no the billionares cannot control the government or do whatever they want, feel bad for them” is hilarious to me
🎻
Good
By the early 2010s, at least two tycoons had seen their net worth approach that decabillion-dollar barrier, only to land in jail on corruption charges instead. That is not to say the charges were baseless, only that the choice of targets did appear to reflect a lingering, levelling tendency among China’s leaders.
In this new era, it’s dangerous to get too rich. Stories abound of the state launching investigations against this business figure or that financier. The pressure is drying up venture capital funds, scaring the young away from lucrative professions such as investment banking. The number of millionaires leaving China has been rising and peaked last year at 15,000 — dwarfing the exodus from any other nation.
Hilarious shit. It’s almost as if it’s impossible to get rich through honest and ethical means.