Posted on 05/06/2021 11:04:18 AM PDT by SeekAndFind
Beijing has overtaken New York for the first time to become the city with the most billionaires in the world. According to Forbes’ 2021 list of the world’s richest people, released in early April, Beijing has 100 billionaires, more than New York, which has 99.
Beijing’s richest are mostly engaged in technology, e-commerce, manufacturing, education, bio-manufacturing, pharmaceuticals, and real estate.
The richest person in Beijing is Zhang Yiming, founder and CEO of technology company ByteDance Ltd., with a fortune of $35.6 billion. Video sharing social platforms Douyin and TikTok, an overseas version of Douyin, are both products of the company.
The richest newcomer to Beijing’s new rich list is 34-year-old Wang Ning and his family. Wang made his fortune selling Blind Box, a kind of toy. His company Pop Mart was listed in Hong Kong in December.
Some of these Chinese Communist Party (CCP)-controlled companies are involved in Internet, cyberspace, and AI technologies and are of special concern to U.S. and international security.
On Sept. 25 last year, legal documents filed in court by The Department of Justice stated that ByteDance CEO Zhang Yiming is a “mouthpiece” of the CCP and that his company has close ties to the Beijing authorities, which endangers the security of Americans. The document said Zhang had made public statements that showed he was committed to advancing the CCP’s agenda.
Trump administration officials have said that while Zhang is not a member of the CCP, he publicly apologized to the regime in April 2018 for one of ByteDance’s apps, saying “the product went the wrong way and contained content that was not consistent with core socialist values.”
The Trump administration also submitted a separate document on Sept. 25 last year, pointing out that there’s a lot of evidence that ByteDance has close ties to authorities
(Excerpt) Read more at theepochtimes.com ...
I read the entire article and Jack Ma of Alibaba fame was not even mentioned. He’s disappeared totally from any news.
Actually, technically closer to ‘Fascist’. Single party political control and a capitalist economy (at least going by *one* of Benito Mussolini’s definitions).
Obviously, Beijing is gaining a ton of wealth. Much of it is coming right out of our pockets. New York on the other hand, is litterally chasing big money out of the city and the state. No surprise they have been surpassed. Between taxes and crime, who wants to stay?
Agreed !
Well said !
Yes, but they want to fight a bloody war to take over Taiwan because their grandpas are still mad.
It pays to have slave labor too. CCP has plenty of that.
More like a type of mixed economy.
Yep. Slave labor, currency manipulation, technology theft, patent infringement, few environmental protections, child labor. Hard to compete with all of that. And no one cares.
but Billionaires Than New York can’t have all their money taken and then get shot or jailed , Oh wait maybe now that can happen
Bingo!
Chinese ‘’Communism’’ is the fascist democrat’s model for wealth and power.
Possibly ‘cuz billionaires don’t live in NYC anymore, thanks to high taxes and uncertain conditions.
The sad thing is that single party control + capitalism (of course the crony version, but still, the power of profit is immense) works really well. It revitalized Italy, it brought back Germany at first- of course the Nazis changed it up to be all about race, but initially Hitler used the Italian model, and it’s working in China brilliantly. The big industrialists seem to LIKE only having to pay off one party and regulatory stability.
I’ll bet the billionaires in NY are “socialists” too.
Which is what facisim is !
Goebbels descibing the difference between German Fascism(Nazism) and Communism.
“
In communism the government owns the means of production. In Fascism the government owns the man who owns the means of production>”
Communism is great for the Nomenklatura.
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