by Charles de Trenck, Acting-Man.com:
A Den of Corruption
A ruling class, no matter its spots or stripes, is everywhere given to over-privileging its own. And the stronger its hold on power, the greater is its accumulation of wealth relative to those outside the power circles.
I recently had occasion to update my thinking on China, its massive waste generation in the last 10-15 years, and Chinese Communist Party members as major beneficiaries of this massive waste, and therefore also the continued need for Xi Jinping to keep cleaning up the more blatant instances of corruption and wealth transfer. The commodities boom of the 2000ds proved to be backed by a massive wave of over-production, waste and a social movement to self-enrichment by the privileged class of China. President Xi Jinping in many ways is now contributing to lowering commodity prices as a byproduct of his crackdown.
Please follow SGT Report on Twitter & help share the message.