Why China's Billionaires Keep Disappearing
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- Опубликовано: 6 июн 2024
- Jack Ma, the founder of Alibaba, made headlines when he was recently spotted at Yungu School in Hangzhou, where the company is headquartered. He had rarely made a public presence since he irked the Chinese Communist Party for criticizing the country's financial regulatory system in 2020.
"He described them as having a 'pawnshop mentality,' and that really ruffled a lot of feathers," said Dexter Roberts, a senior fellow at the Atlantic Council Indo-Pacific Security Initiative and author of The Myth of Chinese Capitalism. "Also, just the brash character of Jack Ma rubbed a lot of regulators and very powerful people in China the wrong way."
Jack Ma wasn't the first billionaire who mysteriously disappeared from public view. In 2015, Guo Guangchang, who is known as China's Warren Buffet, went missing. The company later said he was assisting authorities with an investigation.
In 2017, Xiao Jianhua, a Chinese-Canadian billionaire, was abducted by Chinese security agents from Hong Kong. In 2022, he was sentenced to 13 years in prison for fraud and corruption.
The mysterious disappearance of China's billionaires hasn't stopped yet. In February, Bao Fan, a renowned investor banker, became the latest name on the list of 'vanishing billionaires.' However, a few days later, his company said he was "cooperating in an investigation being carried out by certain authorities in the People's Republic of China."
"When someone like Bao Fan disappears, someone that high profile who suddenly vanishes without explanation, that inevitably sends a chilling kind of feel through the rest of the market," said Nick Marro, lead analyst for global trade at the Economist Intelligence Unit. "I mean, how can you feel like you can do business in a place where, you know, an important leader of the industry can suddenly disappear?"
Watch the video above to find out the reasons behind China's 'missing' billionaires and their ripple effects on China's private sectors.
Chapters:
00:00 - Introduction
01:23 - China's billionaire boom
03:35 - The rise of Xi Jinping
06:47 - Fearful private sectors?
08:09 - What's next?
Produced by: Anuz Thapa
Narration by: Jordan Smith
Supervising Producer: Jeff Morganteen
Graphics by: Jason Reginato, Alex Wood and Christina Locopo
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In China, Billionaires bow down to the government 🇨🇳
In America, the Government bows down to billionaires 🇺🇸
Because billianories keep the country employed!
"Billionaires bow down the the government" - Billionaires that is NOT part of the CCP.
The rest of the world, Most of the Billionaires are "PART" of the government.
(Part - LARGE donors in every election; So large that the Politicians can say NO to them)
@@davidyolchuyev2905 the billionaires are taking wealth from people. That’s why they are keeping rich and powerful
The world is a metronome, keeps its balance in motion
@@davidyolchuyev2905 NO the people keep billionaires rich
Can we "disappear" some of the billionaires in USA? Please
the ones that started the plandemic
Isn't it ironic she said no rights, "even for the rich and famous," as that's the norm in the rest of the world.
ruclips.net/user/shortsyUscGvgQcE0?feature=share
it was more like "The rich and the famous are screwed just like the poor and the downtrodden"
She is a huge simps for the rich.
No its not the norm for the rest of the world. Its just a China- North Korea- Russia thing.
🔺️
Oh, no!! Poor billionaires!!!
ruclips.net/user/shortsyUscGvgQcE0?feature=share
From what I read online, a lot of Americans wish some of their billionaires would disappear.
Not disappear, pay more in taxes. But they buy politicians through political donations who then return the favor by passing laws protecting them.
Outsiders want to come in, while insiders want to come out, bruh
LOL!
They are sad they are poor. It’s all in the mentality
what you expect from people with YOLO Wallstreetbeth mentality
Can someone please tell me the name of the song used as background at the beginning of this video. CNBC has used it in other videos as well and I have been trying for awhile to find it. Thanks.
It's probably open license music.
Its a song called, "I Remember U" by Cartoon feat. Jüri Pootsmann
Baby by Justin Bieber
Ask Google
Simple, money doesn’t buy you power in China.
Glory to Emperor Xi
Guanxi and backstabbing do.
As well as choosing the CCP over those closest to you.
The CR wasn't that long ago.
It's actually simpler than that - autocratic governments hate competition, and the example set by individuals who succeed.
Instead, power buys you money in China.
nice to see no one is above the law for a change
That's amazing. Very helpful
ruclips.net/user/shortsyUscGvgQcE0?feature=share
Wait billionaires can actually go to prison...wow how is that right, they should buy their way out just like in the US
China kills their own people like they're ants. If they have money, it's a bonus for them. If they're healthy, they steal their organs first (naturally)
Holding billionaires accountable for their actions is objectively good. *How* you hold them accountable is another matter.
America never does hold billionaires accountable, unless they blatantly rob even richer and more powerful people.
Your right for Billionaires in India, America and Europe, but most Chinese Billionaires are put to jail for stupid reasons that are not illegal
Jack Ma was basically exiled for criticising the Chinese government
100% True.
Not illegal in your country, illegal in china tho.
Jack Ma is not missing, he told chinese media he was on vacation and went to Japan. He is doing charity work in china and living in a semi retired life.
It should be mentioned that Jack Ma appeared back in China after he gave up control of Ant. He had been hiding in Japan. That was probably the condition for a safe return.
lol He was in Japan for a week, he was all over places in Europe and south east Asia. He is everywhere, safe to return???? dumbofuc
Returning safely to China or not, he certainly got a sizable ”snack down” and had his wings clipped. For all intents and purposes, he is now a ”fetch and step it” for the boys in Beijing. At least he is still above ground... That's more than can be said for the (now) thousands of victims of the Republican supported gun violence in the USA. 😪
Do you really know Jack Ma? Ma Yun is monopolizing capital, uniting with other capitalists, and then controlling China's politics. Such people are destroying China and harming the interests of the Chinese people.
He has three children. He knows what will happen if he disobeys.
@@annan7728 Maybe on paper, but he had a voting block of associates that kept control of the company, and it was this voting block that was reduced to less than half shortly before his return.
"billionaires keep disappearing"
alhamdullilah
and
based
because in China, those billionaires are not the owner of the country and its people
Of course not,the communists are.
Ya, only emperor Xi is
Its the CCP politburo
@@-The-Grim-Reaper- Have you been to China before? If not then shut your mouth up. You know nothing about China. Xi or any previous leader did a good job to develop the country and serve the people, that's why China made such a great achievement in the past decades. If you don't believe so, tell me why the US under the rule of its 'elected' US presidents now is in deep troubles in the competition with the 'oppressive' China under the rule of a 'evil dictator'? Doesn't make sense, does it?
@@joey3291
The CCP created a second and even worse century of humiliation.
That's why HK wanted to remain a free and independent, thriving democracy like Taiwan.
Great report!
Very intriguing!
based china
common China W
If they really broke the law then yes they should go to jail or disappear. In the US… if a billionaire breaks the law they get special treatment 😂
The laws there are very different tho
POV: people find out that billionaires aren’t supposed to be above law
2:36 - between 1958 and 1952. Just pointing out a mistake.
Millions of officials have been punished so far for corruption. It’s no surprise that a lot of businessmen have been held accountable for corruption as well.
Most of those were not punished for crimes, though. They were crushed by political rivals or to seize their assets. Currently the two ruling gangs are Xi's cronies feuding with the cronies of the last premier Jiang.
Maybe they need to fix the system if there are really millions of corrupted officials....Or maybe it's the corrupted system that corrupted everyone.
While Xi is a billionaire as well
Glory to Emperor Xi
Everyone is corrupt. Only selected few will be charged for their crime.
Good graphics and a good analysis!!
Americans when they realize that countries actually crack down on their super wealthy
He doesn't like when we call him Winnie the Pooh
This is the extent westerners know of China. Lmao.
He is too busy so many countries visiting China they want to do business in China.
@@shinbi6009 no its just humorous to us that a government censored a cartoon because it insulted their leader. political cartoons are popular in the West, so the idea of censoring a cartoon for political reasons goes against how many here express freedom of speech.
@@jameshardensfatsuit5726 how is it censored? Oh you heard it from other white people. I just went to Miniso in China and saw Pooh Bear merch. If it is so censored how come there is Licensed Pooh Bear merch everywhere in China? I’m pretty sure white people made it up.
@@jameshardensfatsuit5726 Cultural difference. Dishonesty, slanders and insults are not their values.
The difference between US and China is that the Big corporations, Billionaires in US make an impact of Govt decisions but in China, Govt remains supreme.
False. The real difference is that we continue to have somewhat of a separation between private enterprise and government in the U.S. In China, there is no such distinction - all corporations exist to serve the state, period.
@@bsmithhammernot true
@@unnamedness Please show me evidence to the contrary then.
The National Rifle Association gave Marco Antonio Rubio $1 million USD, and Marco Antonio Rubio strongly opposed various proposals to restrict guns. It doesn't matter how many people die, the most important thing is for The National Rifle Association to make more money. This kind of operation is called corruption in China (go to jail), and lobbying in the United States (legal and proud）。
In China, the govt works for the people.
In the west, the govt works for the rich.
Stay classy, humanity. 💪😎✌️
Why does disappeared billionaires sound…actually good.
To you, because you have to be sadistic!
@@wesleygordon1645 Here comes John Galt.
Because it is ;)
I like the choice of wording "Disappearing", didn't really define that, basically told to shut up from what I gather. USA could probably use some of that, basically an Oligarchy at this point, the country is basically controlled by the lobbyists at this point.
In China, entire neighborhoods are arbitrarily arrested and "disappeared".
*shivers in glee at the thought of the us gov making elon to shut the f up eternally*
ahahaha because china blackmails them.. either pay the state a billion or you and your family dies anywhere in the world
In America money and power are synomous. Our entire government is already bought out by billionares. We aren't so different from China except in China the gov has more leverage. A better balance of power IMO.
big corporates do lobby the government. but your statement of "bought out" is a bit too far
Since I grew up in China and immigranted to the US, you Americans have no idea how good you have it.
@@xiphoid2011 so... you support billionares lobbying in the US because the US is better than China? Like what's your angle? You don't think US can be even better if we spent money on things like Healthcare or having proper gun control laws? The US has it's own problems and NRA lobbying is one of them
@@ezewong290 US isn't perfect, but I would much rather have (and trust) a system where people and companies with different interests compete against each other, resulting in no one could monoplize of power, then a single government, or one emperor, who dominates the entire country and all of its people to shore up his own interests and hold on power.
@@xiphoid2011 If you grew up in China, you would've experienced a 33x improvement of living standards from 1990 - 2020
You should rather be asking "Why America's billionaires never disappear".
In the US, billionaires have the power and use their money to fund political elections, in China the state have power and billionaires are put in their place.
Which place is that?
@@zorbakaput8537 Ask Jack Ma, he'll tell you which place that is.
@@richiexp2 flick pass poor effort.
@@zorbakaput8537 lolol 😂😂😂😂..
Except that it's literally run by a billionaire.
i love how palkisharma reads her news,, 😍#firstpost
Jack jack jack... its the jacket and the guitar
China is the only country where billionaires are held accountable. We need some government policies like the Chinese here in India 😢
Really? How did you come to this conclusion?
@@se-wb9hv This video?
You realize CCP is only doing this to prevent challengers and opposition. CCP also kidnaps and imprisons regular people who criticize the government. Do you want that?
@@dr.ambiguous4913 我懂了。如果你认为这是所有事件的内幕，那我只能说你什么都不懂。因为我是中国人，我知道这些富豪在中国干了什么事，这些富豪在吸血，吸人民的血，同时，他们还想得到权利，推翻中国政府。一旦让这些人得呈，就会让中国变成像美国一样的地狱。美国的资本控制着政府，把救济儿童的钱拿出来贷款给乌克兰去跟俄罗斯打战。让美国1500万儿童无法领取足够的食物。美国的石油公司为了让自己的石油能卖给欧洲，所以游说拜登下令炸毁俄罗斯的天然气管线，你知道为什么俄罗斯要打乌克兰吗？因为美国资本要欧洲的优质实体产业来弥补国内的制造业。所以美国资助乌克兰的反对派，通过游行进行二次投票得到了乌克兰的政权，本来乌克兰一直与俄罗斯关系很好，但反对派得到政权后，不顾俄罗斯的安全利益，要加入北约（如果你知道北约与俄罗斯是什么关的话）。逼迫俄罗斯对乌克兰宣战。至此，美国获取了大量的利益，先是没收了俄罗斯的境外资产6000亿美元，然后可以卖军火给乌克兰（那些军援都是贷款，是要还的）。还有以三倍的价格卖天然气给欧洲。最后就是提高欧洲的安全风险，让欧洲的资本流向美国。但这些事，都是以牺牲欧洲人的利益为基础的。这就是美国，被资本控制后的国家。你知道美国有多少人吸毒吗？超过7％的人。你知道为什么美国的毒品问题这么严重吗？因为美国政府被资本控制，专门有一支军队在国外种植毒品。你知道美国每年因枪击案死亡的人数超过12000人吗？这个数字，已经相当于俄罗斯去年在战场上死亡的士兵人数了，可是美国国内并没有战争。为什么不禁枪？因为禁枪军火商资本赚不到这些钱了。你知道美国国内去年有800次火车脱轨事件吗？你知道为什么这么重大的财产损失事实为什么都没有报道吗？因为你们司空见惯。你知道美国仅在洛杉矶就有30万人无家可归吗？这在发达国家很不可思议，不是因为他们懒惰，是因为美国的法律是资本的吸血工具。一切看似公平美好的事，都是资本的包装。让你认为它很美好。中国知道，这些恶劣的商人控制中国会带来什么，反所以必须加以限制。不然，他们会毁了一个国家。
They are only accountable to CCP, if you will not criticize the CCP your totally fine on whatever you do..
I kind of like their policy. Too big for your britches. Nobody should be a billionaire.
Anybody with the ability has the right to be a billionaire. If you don't want to be that's your choice, but if you don't have the ability you are in no position to dictate how some who does should live their life.
@@billedifier8584 That’s excessive!
Those high pitches at the beginning ouch!
Well ... The word clown seems quite accurated to me!
I mean if billionaire swindlers would sometimes face consequences that might not be so bad
Imagine if the ceo of enron or BP actually faced consequences for events like deepwater horizon, or sam bankman fried for example…
SBF was arrested tho?
So the federal government should kidnap private citizens over political statements? Idiotic
china doesn't hold "swindlers" accountable. chinese CEOs lie, cheat and steal all the time and it's all government sanctioned. china even allows their elite to kidnap children straight out of their school and harvest them for organs, bone marrow, etc.
the only CEOs china punishes are those who speak out against oppression, genocide and corruption. jack ma was punished for having pro democratic views.
the Enron CEO went to prison for a long time?
Yeah, being emprisioned for criticizing the government is a great idea! Genius 👍
Jack Ma, a billionaire, who advocates the 9-9-6 (12 hours a day, 6 days a week) work life, criticized the government, who enabled the infrastructure for him to become a billionaire.
Let's be honest, you wanna be a multi-millionaire? Fine, but no one person needs to own a billion dollars.
Tell that to Xi Jinping. He's a billionaire.
@@VVayVVard source? Trust me bro
@@mrcapybara3579 yeah.... what is this right wing capitalist propaganda? we should fell sorry for those billionaires or something ? 😂
I would totally love is some billionaires around here would disappear. 🤣🤣
@@mrcapybara3579 just google it, it's estimated 1.2 billion dollars
Disagree.
I would highly recommend a book called red roulette by Desmond Shun on this.
Goooood
What Jack Ma wanted to do it’s totally irresponsible. He wanted his financial company has every rights of banking but not regulated by financial regulations, because it was an IT company he argued. He wants to borrow $100 with $2 backing. People who knows details of it all very happy that regulators stopped Alipay/Ants IPO, it was very risky and irresponsible.
Unfortunately this truth is not going to be covered by the western media like CNBC. Breaking down monopolies and fostering geniuine innovation in the areas the country needs it and competition to promote productivity and lower costs for consumers is seen as communist and anti-capitalism. Fear and anti CCP narrative building is papering over what are actually genuinely good reforms. I guess in the medium to long term we will see whether the US approach to let winner takes all monopolies thrive is best for a country is a suprior approach than what China seems to be taking.
Right 👍
Perfect take, in USA IPOs, SPACS openly prey on the amateur investors, billionaires gamble without regulations at the leverage of bending regulations/buying congress members. China's CPC don't care for campaign money from corporates and protect middle and poor people at any cost. US media largely speaks on the behalf of "elite" never for taxpayers and pension funds of middle class . In many ways Chinese government does right by common people😅, I see hope for humanity the way it works out.
ZERO of these people you mentioned are currently 'missing'.
Yeah, they probably spent time in off-books jails but their enemies were after their money, not their lives.
Yeah it's totally fine that they went temporarily missing for a few weeks. Totally normal
@@emailofjamesw Yeah, even actresses have that problem in China.
How reassuring. They took impromptu vacations at government black sites, after which some were returned to public life or imprisoned.
@@emailofjamesw In China it is normal. We simply notice the rich idiots more
The number of people getting mad at the Chinese government for not serving its billionaires is kind of concerning. Lol. You can admire rich people for making it but ain't no way you worship and fight for them as they milk your paycheck. Lmao.
ruclips.net/user/shortsyUscGvgQcE0?feature=share
I hate him. He always exploited many employees. Furthermore, he said “starting to work at 9 am and ending at 9 pm for six days is a good fortune”😮
Don’t work for him, is he forcing anyone to work? In return he created a 500 billion dollar company giving billions of dollars in taxes and giving employment to hundreds of thousands of people.
Do you want people to sleep hungry and die of poverty and hunger or work 60-70 hrs a week and live with dignity?
@@wrightvcx2249 yeah, but he created a very bad working environment. Many companies learned this system, but they didn’t provide any benefits for employees.
@@jiayufei8081 Why you dont open a company and hire all jack ma employee and pay them 10 x times and 1/10 working hours ??? Or all you can do is talk only 🤮🤮🤮
@@wrightvcx2249 according to this stupidity why dont work 15 or 18 hours a day, and if you dont like it, dont work and die of hunger.
Bot
Really like how China handles its billionaires
Rule of Law in China means, the CCP uses law to maintain their rule.
Laws are written arbitrarily when there is a single party system.
Glory to Emperor Xi
Indeed!
sup bois
@@-The-Grim-Reaper- Thank you for your kind words
1: There are 9 political parties in China. Eight of these parties were established earlier than the Communist Party.
2: The Chinese Communist Party has no legislative power.
3: The law is a tool of the ruling class. China's legislative power is in the hands of the National People's Congress. Referred to as "people's democratic dictatorship". . The translation is "the dictatorship of the people"
4: The National People's Congress is the highest authority in China.
5:Ma Yun is now in Hangzhou. in addition. China cracks down on corruption. rather than legalizing corruption.
Long may it continue!!🇺🇸
I guess it's better than falling out of a window in Russia.
China’s m.o is to do everything quietly
I love how Indian media goes after China for cracking down on its billionaires, while the billionaires basically rule India. And guess what, it's exactly the same in the US. Billionaires donating millions to politicians to get what they want.
Which would you prefer, power in the hands of the state, or power in the hands of individual billionaires?
How about neither? How about the rule of law and not of men?
@@profdc9501 easier said than done
How about arresting people for breaking the law and not because you don’t like them? What if someone doesn’t like you or something you said, does that mean you get “disappeared” too?
This has nothing to do with India.
It depends on where the country's economy is.
Very good reporting thanks for sharing, been looking forward to a report on this for a while
@@annan7728 bro no one loves living in a country where someone elects themselves leader for LIFE, that’s a imperialist dictator ship that promotes false happiness which is what China IS lol
@@annan7728 I refuse to believe that you think someone is TRUELY HAPPY living inside a fascista terrorista ran gov.
You roast the man and you disappear 😂
In the past, they disappear forever
Wealth and weaponry dictate the rules everywhere, same as it ever was.
No, not anymore, not in the PRC.
Sounds like a good idea to me.
This journalist has fully understood when she said 'you don't bite the hand that feeds you'.
Billionaires should be more humble
ruclips.net/user/shortsyUscGvgQcE0?feature=share
YES!
The core is the difference between capitalism and socialism. The core value of capitalist countries is freedom, not democracy. Freedom is the freedom of capital and the freedom of capitalists, while socialism emphasizes democracy. Now the word democracy has been stolen by the West, and it belonged to eastern bloc during the Cold War.
In China, the government is to control capital, not to be a runaway horse, and to give full play to the positive role of capital. In the west, capital controls the country, allowing the country's various legal services and capital expansion.
Yes, America itself advocates freedom and equality. Democracy was taken away only after the collapse of the Soviet Union.
And that's why when a politician, a businessman or an academic criticizes those in power, they disappear.
@@VVayVVard
E p s t e i n？
@@dingyipu9372 In the US, people can criticize those in power as much as they want. Just look at the COVID backlash. Now compare to China. See the difference?
@@VVayVVard
Anyway, the gentlemen on Capitol Hill are not responsible. You are free to criticize. I heard that they are all stock gods? Of course, they also legitimized these things if they wanted to.
Jobs will pay your bills business will make you rich but investment makes and you keep you wealthy the future is inevitable, I pray everyone here becomes successful
Assets that can make you rich
Bitcoin
Stocks
Real estate
@@kelvinpeter8640 You're right, it's obvious a lot of people remain poor due to ignorance
I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings
@@christianajoe8563 I'm enjoying working under a platform that brings good return in my life and I've been making my weekly returns without stress all in cryptocurrency
@@christianajoe8563 Learn and trade under a guide I do same and I hardly make losses in the market
Jack was featured on the news the other day. He popped up n public to show he was still alive I guess
A conditional day pass
@@bluevillsplash lol. “Just smile and wave, just smile and wave. Ok that’s enough. *black bag over head*
This comment section is incredibly infested. Seems like China's putting some real effort into PR on social media now. Should've known, seeing as how it has become nearly impossible to say anything negative about Chinese politics on other sites, like Quora, without poking the beehive.
He is like Waldo
@@VVayVVard
*"The exploiting classes as such have been abolished in our country. However, class struggle will continue to exist within certain bounds for a long time to come. The Chinese people must fight against those forces and elements, both at home and abroad, that are hostile to China’s socialist system and try to undermine it."*
*People's Republic of China Constitutional Preamble*
This includes forcing Chinese people to go back to China and then playing it off as China's government "liberating them" from the evil West.
Don't show WION's anti china propagandist in your videos
It's not your place to dictate what they show on their own program.
@@billedifier8584 then they should give disclosure that it's not a news channel and should not get news channel license. Entity should disclose self as propaganda machine
@@vishalbhadre178 All news channels peddle their own particular flavour of propaganda. It's probably safest to view it all as entertainment and not get caught up in the hype.
Need that in america
Reverse squid game
i lived it
And this is bad because???
I'd say this is absolutely based.
ruclips.net/user/shortsyUscGvgQcE0?feature=share
"Listen. Yo azz about to be missing. You know who gonna find you: some old man fishing."
- Chinese Government, 2023
Literally saw Jack Ma in Rarotonga landing in a private jet with another of his friends and family going around the island having a great time.
You don't see them because they are doing this around the world
ahahaha because china blackmails them.. either pay the state a billion or you and your family dies anywhere in the world
Traveling around the world may mean having a great time for many people but not for all. Jack Ma has always had ambition in the business or changing the world, but he now can't even run his own company or have a say. You could see him in a trip because he is not allowed to do his favorite thing.
@@banbee100 Poor poor billionaire? You are a joke
exiled
doing this with conditions?
The only one that I know of that disappeared is Meng Wangzhou … guess who kept her
...and so, any day now, waiting, It'll be hilarious to read of disappearance of "asking for it" Ellon Musk.
✨💯✨
China: stick to the international law.
US: stick to the international rule of order.
There are big differences there.
Nine-dash line.
@@VVayVVard The U.S. invasion of Iraq in 2003 killed at least 200,000 people.
@@oscarchute6040 Meanwhile we have ongoing genocides in Tibet and Xinjiang, with total victims numbered in the millions.
@@VVayVVard No proof tho? All the "evidence" are anecdotal, mean its just he says she says lol
@@GIN.356.A There are satellite images of recently-built 're-education centers', surrounded by unnaturally high walls... in addition to new kindergartens built for 'orphaned' children, the numbers of which rose sharply during the 2010s.
Anyone knows about confucianism and it’s social order? What’s the ultimate gentleman in Chinese society?
Palki Sharma ehhhh🔥
Mo' money mo' problems.
In China, billionaires can’t determine government policies. Salute!
Except it's literally run by a billionaire.
Next time, do some research before commenting.
@@VVayVVard Billionaires don’t feel secure in China, so no worries. Show me the evidence that some of the Chinese leaders are billionaires if you like research so much.
@@VVayVVardhe’s a part of the China’s 50cents Army. Where they get paid 50 cents to post pro China statements.
@@VVayVVard First of all, I am very skeptical that Xi Jingping is a billionaire. Because if he was, then it was would very weird for a billionaire to prosecute other billionaires. Donald Trump is a billionaire and when he was president, not a single billionaire was prosecuted or went into prison or was arrested. I fully support any country that prosecutes billionaires. After all, these types are members of the ruling class and are often capitalists themselves. Remember that the number one enemy of the proletariat (working class) is the capitalist class (owners of big business, media, and many industries) and therefore the construction of socialism requires the prosecution and eventual elimination of the capitalist class. 😎
@@VVayVVard it's better to have a government run by billionaire with policies in helping the poor rather than a government colluding with billionaires with policies in plundering the poor.
How about knowing about Deng Xiaoping's granddaughter's husband "Wu Xiaohui" and China's AB insurance
Their billionaires for a reason don’t need an explanation to disappear
What I got from this video is that China holds its billionaires accountable unlike the United States.
What did they do, other than critize the government?
@@juliarichter6987 Nothing. That a problem?
People should just obey the government. If you criticize those in power, only got yourself to blame for what happens next.
@Julia Richter "don't bite the Hand that feeds you" is a simple truth libertarians don't understand, you should only bite the hand when it is not feeding you.
@@VVayVVard The Germans once said the same and followed Hitler into a nightmare. But, for sure, in China the government will always do what is best for the people. So, I guess, it is not a problem.
@@juliarichter6987 Jeff Bezos owns your country pays 0 taxes. Not the flex you think it is. Zuckerburg sells US facebook data straight to Xi for increased profits. sick
Rule number 1-Never outshine your master.
Probably recalled for upgrades!
Cool wig Dexter
isn't china a socialist county with a capitalist economy and the US is a democratic republic with a capitalist economy. You said it was a communist county but you can't be a billionaire in a real communist county ? Am I wrong ? hmmm? I'm Confused LOL
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China is in the process of becoming the paramount global economy, reorienting the majority of global economic productivity towards itself, from raw resources to intermediate goods, finished manufactured products, and the service sector. Give them a decade to replicate the US-dominated semiconductor industry and they will be *the* superpower of the East. Period. Once they are permanently immune from Western economic sanctions and there's no chance of the West taking extreme action without risking total obliteration of themselves economically they will then be free to continue transitioning toward a full socialist economy, while progressing the rest of the globe also toward socialism. The communist state of society does not and has not ever existed, yet: it is an end-state, the goal of a socialist transition is to create a/the communist society, globally. Socialism comes *after* capitalism, so a prospective communist party must fully industrialize and fully capitalize (ie imperialize) the global economy, before it is structurally possible to begin a meaningful, large-scale socialist transition towards communism.
Inevitability.
Fear of being caught with their hands in the cookies pot.😂😂😂
the guys is taking a vacation lol
Lol, you would too if you are billionaire. Vacation and travel is common for billionaires. Elon Musk even mentioned before, don't follow him on where he is. It is a treat.
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I used to love Jack Ma. He had made tremendous contribution in China. He is still very much an icon for many Chinese. At least, nobody hates him in China I believe. However, after watched his "famous shocking speech" comparing banks in China to pawnshops, I agreed he seemed to become intellectually maniac. Thanks God, he was somehow put at somewhere to gain his cool back. Otherwise, I'm afraid China would have much worse financial chaos than that caused by SVB, SB and CS. Also, looks like Chinese government seems not to be easily bribed, even billionaires could not shake the government and must disappear. How sad !
Don't listen to this guy he's a Chinese troll at the least or a Chinese CCP member spreading propaganda at best.
Evergrande, fantasia, etc highspeed rail to nowhere, low fertility rate, miscounted your population by 100 million people, aging population, the laughable zero covid policy, currency manupulation, literal cities where no one lives, uyghur genocide, can't take an island directly off your coast, western blockade on semi conductors, Xi derailed chinas prospects of being the top economy, i could go on China had its own problems so focus on fixing your damn country.
Keep up the good work. We have to spin this story somehow to make it seem like the Chinese government isn't corrupt, and that all of this is Jack Ma's fault for not falling in line.
@@VVayVVardRules are rules, no matter who you are. He stepped out of line, he got punshed for it. As it should be.
@@treeinafield5022 he just criticized the government. This doesn’t warrant a punishment
The number two person in China, aka the pro-business premier Li Qiang, is alleged to be a close friend of Jack Ma's. I think Jack Ma will be fine, so are other Chinese tycoons.
Weird
A billionaire in china has less rights and protection than an avg citizen in US, U make fun of ur prez and gets dissappeared meanwhile there are huge tv shows like south park who made cartoonic depictions of Donald trump.
Yup, ccp keeps billionaires in check whereas in US money is truely power😂
You should go live in China since it's so bad in the us.
Only billionaires? Where is Peng Shuai? She got abducted and she wasn't a billionaire.
Nah, face it. Your government is evil... (and apparently so are you.)
I saw Jack 2 days ago!
and why it is good
Congratulations to the Peoples Republic of China and to the CPC!
Incredibly based Xi
Salute to CCP!
NGL this is kinda based. Business work in the behest of the government and the people in China. Instead of the Government working in the behest of Business to crush the working people.
We should definitely borrow some of that here in the US.
I'm just saying....
8:00 I just noticed that guy on the stairs putting his zip up 🤣🤣🤣
Was it necessary to call these disappearances? I do admit that these figures might be harassed and be out of public view, but isn't "missing" and "disappearing" extreme? I respect CNBC but this is classic American Media right here, very extreme.
i agree, without concrete prove of anyone having "disappeared", that wording seems just and solely to grab attention
How else would you explain it? From my side it looks like jack ma was punished and expelled from china for making a critical remark about the government. China is a dictatorship
It’s Batman!
I always take state media aka mainstream media with a grain of salt...better to do your own research
What? CNBC is a subsidiary of a publicly traded profit driven company. It's completely unfunded by the U.S. government lol.
They're 6 feet under.
The three examples they brought up are actually alive, but hiding out in five star hotels while their assets were seized.
by saying "don't bite the hand that feeds you" are suggesting to act how your investors want or get abducted? Because it seems that you are suggesting that CNBC!
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At least they don’t jump off from window like in some country…..🤯🤯🤯🤯🤯🤯