Xi Jinping Controls Private Industry in China | Zooming In China
Billionaire investor George Soros, a frequent critic of Xi Jinping’s regime, spoke out again on Monday, charging mutual fund giant BlackRock with misunderstanding China under Xi’s rule and risking their clients’ money and US national security in the process. At the heart of that misunderstanding is BlackRock’s belief that there is a fundamental difference between state-owned and private industry within China, but following crackdowns on Jack Ma and Alibaba, Didi and other Chinese companies listing on American stock exchanges, and tech giants like Tencent, that is no longer the case. As crackdowns now spill into other industries, including education and entertainment, and as Xi increases the pace of his march toward dictatorship, questions of whether any company in China is free from CCP control and just how deep American investments in China should be are more pressing than ever.
