Search
 

China-The Hidden Revolution

Out of sight of the western media there is a major culture change underway in China

By Joel Ross | Updated on July 19, 2015

The regime is trying to “break the rice bowls”, meaning break the power of the elite and oligarchs, and certain state owned industries where corruption was beyond rampant. They began with a massive crack down on general corruption arresting very powerful people and other more ordinary corrupt politicians and businessmen. That program is and will continue on a massive scale. They then cleaned out members of the regime who were old guard and not followers of Xi and this massive crackdown. This was to eliminate as much top level pushback and possible retaliation as possible and to eliminate the threat of a coup.  When they go after these top people they take down the family  so there are no potential enemies. Bo being the prime example. In short they have been clearing out anyone who might pose a threat and who might try a coup of some type. That includes oligarchs who have wide networks and power.

They next took down the men who controlled oil. That had a bigger reason. Then they took down the railway industry which blew thru $100 billion budget per year and a substantial amount was stolen. It was the most corrupt of all government agencies. Next they are working on coal. The reason to first take down oil was so now when they go after coal they push oil in to replace the coal. Don’t believe the nonsense that this shift from coal is really all  about climate change. They do want to cut pollution, but It is much more about consolidating power and ending the massive corruption and powerful people in the coal industry. Similarly they took down the leaders of several provinces. There were three provinces that were especially corrupt and were their own power centers able to ignore Beijing and do what they wished. .

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.