NAfter the government severely cracked down on technology and digital companies and their billionaire founders, uncertainty in China is increasing. More and more new super-rich people feel threatened, even if they are not. Therefore, they and their companies are now promising billions of dollars to the society so that they can share their new wealth.President Xi Jinping He has publicly opposed the “excessive” income that should be “adjusted”. Your recipients should be more involved, for example through donations.
The five leading technology billionaires in China alone have jointly pledged more than $13 billion. According to government surveys, the disposable income of the richest 20% of Chinese is more than ten times that of the poorest 20% of compatriots.
China’s future guide
However, now, Han Wenxiu, deputy director of the Finance and Economics Committee, refutes one point: China will not “kill the rich and help the poor,” he said. It is true that those who “get rich first” should help others. But no donation is required. Hard work should continue to be worthwhile. “We can’t wait for help, don’t just rely on others or beg for help. We can’t support amateur players,” he said.
The latest restrictions imposed by large technology and digital companies are by no means aimed at the private sector itself or foreign investors, but specifically aimed at illegal acts and violations. Previously, in another location in Singapore, for example, there had been public discussions about the larger-scale immigration of Chinese founders. Hong Kong’s fiasco has fallen into the hands of Southeast Asian financial centers.
The Chinese Communist Party (CP) issued a guide to the future of China on Thursday. “The journey ahead will not be smooth sailing, but the prospects are bright,” it said. Despite systematic planning, it is certainly not easy to create a balanced level of prosperity for everyone and enable all 1.4 billion residents to enjoy a comfortable modern life. The Communist Party once again promised that the “unique Chinese road” of modernization will continue to adapt Marxism to China’s national conditions. “This will ensure that economic, political, cultural, social and environmental development is of higher quality, more efficient, fairer, more sustainable, and safer, so that people can enjoy the benefits more.”
As usual, the party also seeks a balance with other countries. There, investors are generally worried about excessive intervention.Although the Vice President of the United States Kamala Harris Emphasizing the contrast between their visits to Singapore and Vietnam, the Communists appeased their neighbors, but continued to attack the Americans. Harris said the United States welcomes “stiff competition. We are not looking for conflict, but we will speak out on issues such as the South China Sea. When Beijing takes actions that threaten the rules-based international order, we will speak out.” China said it seeks “Cooperation instead of confrontation, openness instead of isolation, mutual benefit instead of zero-sum game.” Then Beijing will double the dose of the coronavirus vaccine provided to its unpopular neighbor Vietnam, which Harris promised.
