How Communist China Has So Many Billionaires



late last year Alibaba co founder Jack Ma was confirmed as an official member of the Chinese Communist Party Jack Ma also happens to have a not very communist sounding estimated net worth that peaked at 50 billion dollars in 2018 even though China remains officially committed to a communist future with equality for all and wealth distribution based on need its history of capitalistic compromise has made it the place to turn personal millions into billions this is your bloomberg quick take on China's billionaires by one estimate China creates a new billionaire every two days the seeds of the billionaire boom were planted four decades ago beginning in 1978 when Communist Party patriarch dung Xiao ping opened the country up to private enterprise and investment since then China began shifting away from agriculture and increased its focus on manufacturing eventually leading to growth that turned the country into the world's second largest economy behind the u.s. there's been this discussion of what is socialism was capitalism but they're not is there not poverty the lines between business and politics have become increasingly hazy as President Xi Jinping has led a campaign to ensure the Communist Party plays a leading role in all aspects of society the sort of shining example of what China hopes it can become which is you know cutting edge you know smart people doing cool things and making products the people around the world want to use their a lot but China hasn't given up on communism it just made full communism a goal with no time frame on the roadmap to communism the country will have to become fully socialist first which she has set a goal of reaching by 2035 China is a communist country it's a one-party state so in that sense is very intensely focused on making sure it can maintain control at the expense of a lot of civil rights and sort of other you know freedoms occupations Jack Ma was among 100 people honored by the Communist Party as part of the celebration marking 40 years of China's economic reform evidence that on the issue of communism China is more than content to wait you




Comments
  1. I’m Chinese,most Chinese don’t understand why rich USA against us ,they are far more rich than chinese,because chinese don't have election,and trump and most politician want target if they want to win the heart of poor people in USA,who became poor because of rich people in USA like TRUMP,if american people don't against other countries,they will against the rich people like french。

  2. They just do what the west does: call something communist without knowing what that actually means.
    The CCP has about as much to do with communism as the DPRK has to do with democracy.

  3. The Communist Party and democracy do not conflict. China is the only example. Obviously, the Chinese have found their own way. In fact, the Communist Party of China is much better than most political parties in Western countries…

  4. as always, the west always pretends it knows china more than the people of china do; knows more what chinese people want than that of chinese people. one thing for sure, it seems that the west knows more what "communism" is than the communist china does. just incredible…

  5. china should regulate those billionaires. Because they aren't really helping the remaining billion of people. those billionaires didn't really contribute to the people there. when there are over a billion people need to live there and some billionaires emerges making money circulations more DIFFICULT. because they are HOARDING THEM. TAX THEM. VERY HIGH.

  6. Exactly China is not a communist country yet. If China is not a one -party policy country, China never become a communist country.

  7. China is state capitalism, not communist, with a quasi-East Asia developmental state model, devised by the Japanese. Infant industry protection, especially the Internet Firewall, provided a safe soil for domestic Internet companies to thrive. Look into the areas where most billionaires are created, most of them are in the Internet Industry and the real estate industry, where there the investment-driven policies played a huge effect.

  8. A few definitions that might be useful for casual viewers :
    Communism – Stateless, moneyless, classless society – egalitarian and often practicing direct democracy
    Socialism – An economic system where the mode of production is owned by the public. Public was supposed to mean the workers not the state
    Authoritarian – Describes a system of relationships between two entities where one has full power or authority over the other. In this case, the state and its peoples.
    Colonialism – A practice by which the authority of one state extends out to other territories. This can be done militarily or by economic means.

    So you can see that China is most definitely not Communist – this just comes down to the Chinese government using propaganda to brainwash the masses.
    You can also see China is not Socialist – because they've instituted a centralized government to be in charge of all modes of production and then the state has chosen to give the mode of production to the capitalists in China and not to the workers.

    Now you can see why we should be describing China as an authoritarian state which has given the mode of production to the capitalists for their own gain in order to promote security, stability and obedience and future colonialism. You only have to look at how the Chinese are spreading their influence in financial loans in Africa and all over the world to see they're bringing a different style of colonialism. Less bloody for sure but we'll have to wait and see how the next century plays out as the USA begins to crumble and China rises to the top of the world militarily. Its only through the military that the Chinese will be able to enforce their loans to be paid back.

  9. Simple. Wherever you look in China it is a criminal enterprise that rip off everyone and anyone. There is no basis for TRUST in Chinese society……its pretty horrible really. China is not a normal country, isn't it obvious? it's a dictatorship with a lifetime emperor. It's the most arrogant country in the world, their cover army troll the web to be an easy people and despise other culture and other countries( see below)

  10. china is a market, its government an authoritarian regime. Government and economy match but they don't equal. The west has innovation through democracy. China has the man power to produce.

  11. what is communism, mr. bloomberg? oh , again, what is socialism, mr. bloomberg? not like westerners, "ism" isn't so important for we chinese.

  12. The answer is more easy than that. China is not a comunist country, its one party dictatorship with one capitalistic system. We in the western world should start to treat them as one evil dicatorship, or it will end with them ruling over us.

  13. Where are the communist grey suits & bicycles. Where’s the job for life? China is communist in name, but reality it practices more capitalism than the US. Sometimes I can’t make who’s commi or who’s capitalist.

  14. Communist party Now is just an exclusive club. Has nothing to do with Mao's little red book anymore. It's more like a country club of private sector and public sector individuals cooperating toward a unified harmonious society. You are expected to toe the party line and behave. Not much different from a secret society or exclusive club.

  15. Thats how the Bloomberg makes the china looks like a evil,nazi style high tech-like alien,I mean,Some people just want a hostile country to divert public attention from domestic problems, don't they

  16. The real secret that this video avoids is that the government has to show favor to a certain group or set. Thus, the government eliminates competition and promotes those within the favored group.

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