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7 days agoThe difference between Chinese billionaires and American billionaires is that the Chinese ones are owned by the government. To set up any company in China requires part government ownership of, I think, 15%.
There is no way the billionaires are calling the shots, ever, while Xi is in power. As if he would allow what’s happening in America, happen in China.
Remember what happened to the CEO of Alibaba? Jack Ma? When he became rich enough to potentially take over the country?
But China isn’t a crony capitalist country like America. The money is set up to always favour the government over there.
Things are the way they are in places like America because the government exists because of the billionaires (bribery, lobbying etc). In places like China, the billionaires exist because of the government (surveillance, prison sentences etc). This is most likely because Xi is driven by ideology, not greed.
The only way for the billionaires to take over China at the moment is to come together and start their own army to go to war. No way that’s going to happen because wars are a drain on capital.