Wen Jiabao's £billions

The new and younger leadership within China's Communist party are not so much against capitalism once they realized that if capitalist' market system will work toward the benefits on their state control enterprises enormously. Most of the gains from a more open market dynamic in China ultimately bring plenty of wealth to high ranking party officials who are practically owner of the state corporations commonly found in profitable banking, energy, transporatation and telecommunication sectors. So long as top communist official is reaping much of the gains from the shift of ages old socialism to captialism, i am sure new generation of communists will be more than happy to keep present China's economy policy in tact. That is right, absolute power gain the most in all their corrupt practices and will always in absolute term, there is not much to doubt about that, it is quite similar as in dictatorship, the top official get to keep the biggest amount of development dollars generated in an open market.

Thank you for sharing it with us. As a Chinese, I am now shaming about being a Chinese. The Chinese government officials can get money for taxing Chinese people and they can also kill normal people for no reasons. But even I know that, I still can do nothing to aviod that. Worring about how to lead my life, how to keep myself safe is the most important task in my daily life. Wen Jiabao acted as a good official here and forced people to accpeted that. But most of people here did not believe it anymore.

It is sad when most of a country is in poverty except for the elite few. It is also scary that a country can control the free spreading of information, but you see both of those things in this example. I am not opposed to people having wealth if they come by it legitimately, but dishonest wealth is corrupt.

Thanks a ton for sharing this discussion. Well yes u are absolutely right, i think who would not have fumed after such a news is spread throughout the world. In fact the media should highlight what is being done by this China Premier and not on how much wealth he owns. They should have rather focused on how development has occurred in China over the years that can help other countries to adopt their model and implement in their country. What say?

sometimes i think we misunderstand china. we are capitalists; the chinese are not. here in nigeria, we do business a lot with the chinese and i have realized that the way they do business is somewhat different from the capitalist way. to a born capitalist, you could call them anti-market, but yet they have a thriving economy and they have helped nigerians a lot. i think the chinese economic model accommodates for poverty; i can not prove this and cannot claim what i cannot prove, just my thinking and my thinking is limited. i also believe that the chinese emphasize other values beyond materialism which the system depends upon. we capitalists have been known to emphasis the material. everything in the market in a capitalist economy is measured in terms of value which depends on materialist values. i think we should give the chinese a little benefit of the doubt when it comes to the poverty in the country. i think they thrive on it; that it is a facet of the system they run.