Going well beyond curbing tech giants, he wants the Communist party to steer flows of money and set tighter limits on profit making, his speeches show and officials say. More turbulence for foreign businesses is likely.

:xi-clap: China haters aren't going to be able to cope

Archive: https://archive.is/2021.09.20-203459/https://www.wsj.com/articles/xi-jinping-aims-to-rein-in-chinese-capitalism-hew-to-maos-socialist-vision-11632150725?mod=flipboard

  • please_dont [he/him]
    ·
    3 years ago

    A few months later, when the Chinese Communist party celebrated its centenary on July 1, Mr. Xi donned a Mao suit and stood behind a podium adorned with a hammer and sickle, pledging to stand for the people. After the speech, he sang along with “The Internationale” broadcast across Tiananmen Square. In China, the song, a feature of the socialist movement since the late 1800s, has long symbolized a declaration of war by the working class on capitalism. Such gestures, once dismissed as political stagecraft, are being taken more seriously by China watchers as it becomes evident Mr. Xi is more ideologically driven than his immediate predecessors.

    oh no, not I D E O L O G I C A L Y D R I V E N

    Industries that Mr. Xi views as being led astray by a capitalist spirit, including not only tech but also after-school tutoring, digital gaming and entertainment, are bearing the immediate brunt.A policy aimed at turning private education companies into nonprofit entities all but killed New Oriental Education & Technology Group Inc., which has provided English lessons to generations of students studying abroad. Its shares have plunged about 90% this year. Founder Yu Minhong, nicknamed “Godfather of English Training” in China, broke into tears during a recent company meeting, according to an employee. “It’s devastating to him, and to all of us,” the employee said

    https://i.kym-cdn.com/photos/images/newsfeed/001/881/867/6f6.jpg

    • LeninWeave [none/use name]
      ·
      3 years ago

      oh no, not I D E O L O G I C A L Y D R I V E N

      oh no so horrible to be driven by principles, unlike us, I am very smart :big-cool:

      • cresspacito [he/him]
        ·
        3 years ago

        As a Western world leader I prefer to rule by whim alone, I find the guidance of ideology tends to cloud my judgement. I think a rigid set of ideals and ethics would really get in the way of all the money I get for being corrupt.

    • emizeko [they/them]
      ·
      3 years ago

      how much you wanna bet this reporter has never given a shit about any of the people who have "broken into tears" being tortured by anitcommunist US-backed Central American death squads

    • richietozier4 [he/him]
      ·
      3 years ago

      Founder Yu Minhong, nicknamed “Godfather of English Training” in China, broke into tears during a recent company meeting, according to an employee. “It’s devastating to him, and to all of us,” the employee said

      Imagine if Biden’s policies drove Bezos to tears. God, I wish that was us