Translated by: MOS Translation Group – Snorlax
Xi Jinping is tightening his grip on private companies and curbing technology giants, according to research published in the Wall Street Journal on Sept. 22. He also wants the Communist Party to play a greater role in directing capital flows, setting tougher boundaries for entrepreneurs, investors, and their profitability, and exerting even greater control over the domestic economy than it does now. Xi Jinping is trying to return Communist China to Mao’s vision of socialism.
According to the Wall Street Journal, the CCP’s authorities have launched more than 100 regulatory actions, government directives, and policy changes guided by Xi’s reform approach, including initiatives aimed at breaking the market dominance of companies such as e-commerce giant Alibaba, conglomerate Tencent, and online taxi industry leader Drip Since the end of last year.
Recent measures by the Chinese Communist government to curb home prices are exacerbating a cash crunch for property developer China Evergrande Group. That’s sending a chill through global markets.
What’s more, at a leadership meeting in August, Xi Jinping stressed that the government would intervene further in the economy and take more measures to achieve an equal distribution of wealth in order to achieve “commonwealth.” Based on his development philosophy, the government will have control to guide the domestic economy and industries along its chosen path and direct private resources to strengthen the country.
This philosophy, for domestic companies, threatens to stifle much of the entrepreneurial energy that has fueled China’s prosperity and inspired years of innovation.
For foreign companies, it means the companies will face more restrictions, requirements, and loss of profits. They have to share personal user data, hire Communist Party members to help the Chinese government achieve its goals, and so on.
Policy adjustments under Xi Jinping have led to the evaporation of more than $1 trillion in market value from the stock market.
Private companies and their owners have also been encouraged to donate profits and wealth to help achieve Xi’s goal of commonwealth. Alibaba itself has pledged the equivalent of $15.5 billion to promote social justice.
People who are familiar with the matter revealed that the Communist Party’s State-owned Assets Supervision and Administration Commission of the State Council are planning to establish more government-controlled cloud service providers for data storage.
The Chinese Communist government is accelerating the reversal of history. The iron fist of socialism is clenching tighter and tighter. It is strangling people’s livelihoods. The Wall Street Journal’s article, which names Xi, confirms that the evil international dark forces are on a collision course with Xi. If the Chinese Communist Party and the evil international forces are not destroyed, not only the Chinese people but the people of the world will never recover.
(This article represents the views of the author only)
Proofread by: Lakers
Edited by: Lakers
Posted by: Lakers
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