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>hurt the future prospects of your country Reality demonstrates otherwise. Slapping speculative billionaries and tax evading actors is a great way to improve p

>hurt the future prospects of your country Reality demonstrates otherwise. Slapping speculative billionaries and tax evading actors is a great way to improve prospects of country. Deng: let some people get rich. Many did, excessively so. Under Hu, his policies ran it's course, the next step was always to reign the extravagantly rich in. Breaking softwares hold on monopolizing talent to shave seconds of food delivery and tech workforce has now been reoriented towards strategic hardware, sectors that's seen huge growth in employment and wages post soft tech crackdown. Capital controls slowed enormous capital flight, while PRC has been consistently moving up value chain (even during zero covid), with waves of sea turtles abroad flooding back, including record amount from academia now that PRC is flush with resources and opportunities. There's reason US (and TW) literally has to sanction their workforce from working in Chinese semi, while hammering their industrial policies. Meanwhile PRC kids being sent abroad are mostly those too dumb to make it in Gaokao, this isn't the 70-00s where state was sending out top talent to learn abroad, now PRC is not sending their best anymore. See how PRC rapidly climbing science and innovation indexes (controlled for quality) in last few years. All of which doesn't factoring in the fundemental human capita math that PRC is now generating so much high skilled talent (~OECD combined) paired with mature industrial base, that brain drain no longer meaningfully impedes her rise. And last I checked PRC is still generating plenty of media and winning tons of the medals in the last few olympics. Believe it or not, most Chinese are fine pursuing the dream of being an apolitical millionaire with an escape plan abroad just incase their kids are too dumb to compete in pressure cooker PRC society.

candiodari 4y ago
https://www.latimes.com/archives/la-xpm-2012-jan-08-la-fg-china-corruption-on-wheels-20120108-story.html https://www.latimes.com/archives/la-xpm-2012-jan-08-la-fg-ch... Last party congress the CCP had a problem. There wasn't enough place within the walls of the forbidden city ... for all the VERY expensive cars (>120k USD) the politicians arrived in. These people, presumably the main decision makers, you say are going to chose against their own wealth over a very long period of time just because that would be the better thing to do for their children and grandchildren? Just because the party policy no longer wants them to have luxury cars from moment X? I find it very hard to believe the CCP will make better choices than any western democracy. Oh, and by any indication the cars are still there.
- dirtyid 4y ago
  > "Last party congress" Article doesn't mention party congress at all. Last party congress was 2022, before that was 2017. Your article from Jan 2012 is almost year before Xi entered office and his anti corruption drive that dramatically reduced public displays of extravagance, which is not "very expensive" 100k-300k luxury cars. Chinese sentiment circa 2012 was generally fine with top 100s officials and their rich spawn driving nice cars, let alone Audi A6s. Because ultimately that was peanuts to the stupid extravagance like banquets officials were flaunting that cost more than said cars. The actual article covers post Gansu bus crash negative sentiment that resulted in school bus safety reforms. Some kids died, people whined, it was loud enough, reforms happened. It also touches on low-mid level bureaucrats and their beyond salary nice cars, many of which are not still there after 2M+ anti corruption cases by CCDI. In fact, article highlights why someone like Xi was selected to rule, and why he hammered anti corruption so hard. Again, low-mid level bureaucrats driving Benz =/= hundreds of standing/presidum of NPC or central congress members, aka literally the creme de la creme of most powerful politicians / wealthy industrialists in PRC being able to afford nice cars. It would be wierd if they couldn't. > against their own wealth over a very long period If they get purged by CCDI where does that leave their children / grand children? Hence sitting on their piles of gains quietly with escape plan abroad. If anything anti-corruption has been too effective because historically corruption facilitated getting things done fast and there are signs of paralysis down the bureaucracy chain due to caution. Or recent analysis trying to hammer Xi for increasing income inequality, but actual data shows top 1% share of wealth relatively stagnant and most grown among burgeoning middle class. Ultimately, it's easy for 1% to go against accumulating more excessive wealth. for very long period of time, if it means holding on to what they have while avoiding the guillotine, especially if they can still enjoy their nice cars in moderation. Behaving is path of least resistence vs even running abroad where PRC long arm can still harass while capital controls makes it impossible to take out all wealth. Jack Ma can chill in JP, but most of his money is still trapped in PRC, by design. > find it very hard to believe the CCP will make better choices than any western democracy Not in every domain but but certainly some/many - again western democracies are trying hard to imitate CCP industrial policy - previously dirty neolib word - to maintain competitiveness. All while top western politicians are driving their own fancy cars. State department wouldn't label PRC as "only country with the economic, diplomatic, military, and technological power to seriously challenge" US if PRC leadership wasn't in aggregate, making better choices over past decades.

candiodari 4y ago

https://www.latimes.com/archives/la-xpm-2012-jan-08-la-fg-china-corruption-on-wheels-20120108-story.html https://www.latimes.com/archives/la-xpm-2012-jan-08-la-fg-ch... Last party congress the CCP had a problem. There wasn't enough place within the walls of the forbidden city ... for all the VERY expensive cars (>120k USD) the politicians arrived in. These people, presumably the main decision makers, you say are going to chose against their own wealth over a very long period of time just because that would be the better thing to do for their children and grandchildren? Just because the party policy no longer wants them to have luxury cars from moment X? I find it very hard to believe the CCP will make better choices than any western democracy. Oh, and by any indication the cars are still there.

dirtyid 4y ago
> "Last party congress" Article doesn't mention party congress at all. Last party congress was 2022, before that was 2017. Your article from Jan 2012 is almost year before Xi entered office and his anti corruption drive that dramatically reduced public displays of extravagance, which is not "very expensive" 100k-300k luxury cars. Chinese sentiment circa 2012 was generally fine with top 100s officials and their rich spawn driving nice cars, let alone Audi A6s. Because ultimately that was peanuts to the stupid extravagance like banquets officials were flaunting that cost more than said cars. The actual article covers post Gansu bus crash negative sentiment that resulted in school bus safety reforms. Some kids died, people whined, it was loud enough, reforms happened. It also touches on low-mid level bureaucrats and their beyond salary nice cars, many of which are not still there after 2M+ anti corruption cases by CCDI. In fact, article highlights why someone like Xi was selected to rule, and why he hammered anti corruption so hard. Again, low-mid level bureaucrats driving Benz =/= hundreds of standing/presidum of NPC or central congress members, aka literally the creme de la creme of most powerful politicians / wealthy industrialists in PRC being able to afford nice cars. It would be wierd if they couldn't. > against their own wealth over a very long period If they get purged by CCDI where does that leave their children / grand children? Hence sitting on their piles of gains quietly with escape plan abroad. If anything anti-corruption has been too effective because historically corruption facilitated getting things done fast and there are signs of paralysis down the bureaucracy chain due to caution. Or recent analysis trying to hammer Xi for increasing income inequality, but actual data shows top 1% share of wealth relatively stagnant and most grown among burgeoning middle class. Ultimately, it's easy for 1% to go against accumulating more excessive wealth. for very long period of time, if it means holding on to what they have while avoiding the guillotine, especially if they can still enjoy their nice cars in moderation. Behaving is path of least resistence vs even running abroad where PRC long arm can still harass while capital controls makes it impossible to take out all wealth. Jack Ma can chill in JP, but most of his money is still trapped in PRC, by design. > find it very hard to believe the CCP will make better choices than any western democracy Not in every domain but but certainly some/many - again western democracies are trying hard to imitate CCP industrial policy - previously dirty neolib word - to maintain competitiveness. All while top western politicians are driving their own fancy cars. State department wouldn't label PRC as "only country with the economic, diplomatic, military, and technological power to seriously challenge" US if PRC leadership wasn't in aggregate, making better choices over past decades.