[Opinion] The CCP’s Massive Wealth vs. China’s Meager Social Welfare

Author: New York MOS Translation Team GBW

In the past year, more and more people have learned about the Chinese Communist Party’s (CCP) crimes against humanity: making and spreading COVID-19, genocide in Xinjiang, and killing Hong Kong’s “one country, two systems.” It takes financial resources to commit large scale well-planned crimes. Seizing the CCP’s assets is probably the most effective way to stop it from committing more crimes. According to Miles Guo, the CCP’s overseas assets are worth at least $20 trillion[1]. How much is $20 trillion? How did the CCP amass this enormous wealth? What if we use the $20 trillion to improve China’s public healthcare and social security benefits?

The CCP claims it represents the proletariat, a class of people who don’t own any assets. The truth is that the CCP is the richest organization in the world. According to CNBC, the total value of all stocks worldwide is $95 trillion. The value of stocks traded on the U.S. stock exchanges is $51 trillion. The CCP’s overseas wealth can buy 21% of the world’s stock market or 39% of the US stock market. The value of the above-ground gold in the world is only $11 trillion, whereas the CCP’s overseas assets can buy almost double of it. The CCP’s wealth dwarfs the Forbes world’s richest 100 people, whose total net worth is just $2.4 trillion.

Chart 1: CCP’s Overseas Assets, Major Asset Classes, and China’s Social Welfare

The CCP’s wealth is highly concentrated in a few kleptocrat families. Did the CCP kleptocrats become rich by invention like what Jeff Bazos, Bill Gates, and Bernard Arnault did to retailing, software, and luxury goods respectively? Of course not. The CCP built its wealth by stealing from the 1.4 billion Chinese people.

The life of the Chinese people would be greatly improved if they could keep the fruits of their hard work. In 2020, the CCP announced that China had lifted every Chinese above the poverty line, which is a daily income of $1.7 per person. We know this must be a lie because the COVID-19 pandemic put more Chinese into poverty as businesses shut down and people lost jobs. If the CCP truly wants to make the Chinese people’s life better, they should give the $20 trillion back to the people. $20 trillion can pay each and every Chinese $1.7 per day for 23 years. $20 trillion can cover China’s social security retirement expenditures for 24 years at the current run rate of only $0.82 trillion per year. China’s public medical insurance fund spent merely $0.32 trillion in 2019. $20 trillion can double China’s current public medical insurance spending and keep paying the expenses at the increased rate for 31 years. The sharp contrast between the CCP’s massive hidden assets and Chinese people’s meager social welfare proves that the CCP’s motto of “serving the people” is a complete joke.

The CCP needs to go away and be replaced by the New Federal State of China (NFSC). The NFSC was founded on June 4, 2020, by Miles Guo and the Whistleblower Movement’s followers. The NFSC’s constitution states clearly that it will protect “human rights, rule of law, freedom of religion, freedom of speech and private property rights.” The NFSC declared that “legislation must be enacted that guarantees educational opportunities, retirement pensions, and health care — which are basic needs for the welfare of the people.”[2] One of the themes of 2021 for the NFSC is to take down the CCP by building a competing ecosystem. The NFSC has been attracting millions of freedom-seeking Chinese to volunteer or invest in the GEcosystem which contains GCoin, GTV, GNews, GFashion, GMall, GSearch, and GClubs. The NFSC is using its action to make the people rich and to prove that the wealth created by the people should be kept by the people.

References:

  1. https://gwins.org/cn/milesguo/14364.html
  2. https://gwins.org/cn/word/4854.html

Editor: WmSky
Reviewer: Irene

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