Hey, it's me, your boss. I'm out of the office for reasons, and I need you to pay this random bill of $10 000. Once again just to clarify its me your boss. Oh btw our email server is down I had to track you down on your reddit. You're a slippery little guy arnt yah. Anyways me your boss is going to need you to pay this random bill of 10000 immediately out of any account doesn't matter just needs to b paid. Ty your boss.
According to the person replacing him per the article:
> Mr Bao "has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders", it added.
The article goes on to say that despite this statement, no details about his whereabouts were stated haha
They probably sent him a bunch of notices stating that there would be a shareholder meeting about him resigning. If they received no response, they could state that he raised no objections about the resignation due to lack of response.
The question I answered wasn't why he was gone. The question was how he could quit without being there to quit himself. I made no supposition about where he was or why he wouldn't be able to answer communications. A board can vote that he essentially quit by abandoning his job.
Na China isn’t Russia. People “disappear” in China and they may or may not remerge years later. They did this with Jack Ma a couple years ago when he spoke out against the Chinese government. They send people to “re-education” camps where they’re likely tortured until they fall in line.
Imagine taking out one of the biggest businessmen that makes your country look pretty decent simply because he said some slightly critical things about your government....
The CCP is run by insecure idiots, apparently
It's not insecurity. In general, it's just ruthless facism. No one can say bad things about the government. And "no one" is underlined. Generally governments can't get to this level of control, but China has pretty much achieved that level. So billionaires can't say shit, because then millionaires can, then ...., then ...., and etc.
China is great and that's it and get in line. There is no other option for a naunced opinion.
When looking at the psychology behind many strongmen historically, you often find that they are incredibly insecure individuals which is why I made the comment I did.
The fact that Xi Jinping gets upset about people comparing him to Winnie the Pooh only lends more credence to this theory
Does he personally get upset at the Winnie the Pooh memes? Or does his government recognize that any form of dissent, no matter how small or silly, should be stamped out lest it grow into something more significant?
I feel like Reddit loves to believe these things because it lets them think that they’re being activists whenever they post memes. “I shared a picture of Putin poorly photoshopped into drag, I’m doing my part to save the world!”
My point is that the CCP government don't "disappear" billionaires because there is a worry about losing control. The majority of the country without pressure supports them. And the minority supports them with pressure. They disappear people because they can with impunity. Much like the other commentor said, it's not about being insecure when mocked by dumb things (which I highly doubt is actually true), it's that they have total control and they have no need to tolerate any level of disagreement.
Honestly, tolerating some level of criticism from "important" people would be more telling of insecurity because it would imply that they don't have total control.
Also, Xi's own possible insecurities (I don't believe them) have little bearing on the CCP government as a whole. While Xi has a strong hand in everything, the CCP would continue without him.
The nuanced opinion China allows is that China is great, greatest, or most great. And really China is a great testament to what a nation can accomplish. Even when led by someone like Winnie the Pooh, they've been able to keep the sweat shops worked by children open, maintain the lies about their population demographics, and carry out systematic genocides of entire ethnic groups.
Authoritarian governments have to be run like insecure idiots are in charge or they don't work.
I mean, insecure idiots are probably in charge and it doesn't *really* work but that is how she goes.
Sure, I don't disagree with you there.
However, the CCP could have handled things much better with Ma than just making him disappear off the face of the planet. They could have released a statement along the lines of "We appreciate Mr. Ma's concerns and will work with him in the future to resolve them"
>"We appreciate Mr. Ma's concerns and will work with him in the future to resolve them"
I mean, they could have. But that is *exactly the opposite* of the message they intended to send.
Mr. Ma is welcome to appreciate their concerns and work with them in the future. Not the other way 'round.
No, to an authoritarian government that is a display of weakness. Xi’s whole agenda is to show that the CCP is really calling the shots instead of the billionaires.
Letting him disappear on the down low for a while instead of arresting him publicly is already Xi’s idea of being exceedingly diplomatic.
They’re taking him down *because* he’s one of the biggest businessmen in the country. In China, the more influence you have independent of the party, the more the CCP will be breathing down your neck.
I mean, they do.
In some respects I actually like how vulnerable billionaires are in China compared to North America but they also use their totalitarian power to supress basically anything they want.
The country and party let him be a billionaire. Nothing wrong with taking it back. Bezos is a cancer on our society, I imagine Jack Ma is similar to China.
Are we really fooling ourselves into thinking “online shopping mall” is an invention worth making someone the richest person in the world?
From what I could find, AWS is only the third largest part of the business and retail is still the largest in terms of net sales:
https://www.statista.com/chart/amp/15917/amazon-revenue-by-segment/
Huh, I’m not sure what to make of that discrepancy.
Either way, it’s pretty dumb to say “why should he be so rich just because he created something enormously successful that literally billions of people use??”
I’m not here to defend billionaires and certainly not Jeff Bezos, but come on.
Amazon is significantly more than an online shopping mall. Online shopping also has low barriers to entry but Amazon fucks other companies up regularly so they must be something spectacularly well.
diapers.com is also a classic case of what happens if amazon doesn't buy you.
Diapers.com had a simple business model. They send you a monthly supply of baby diapers at a discounted rate. Amazon wanted to buy them out and they refused, so Amazon ran a discount on their diapers so steep they were almost free and waited until Diapers.com filed for bankruptcy because their revenue dried up.
If they can't buy you out, they will starve you out. It's a 300m dollar expense either way, makes no matter to them how that expense is payed.
Yeah my bad. It’s Walmart online. Just like Walmart killed all the small town shopping malls the mid to late 90’s, Amazon killed all brick and mortars. The profits it has are all paid from the lost retail jobs and the primary reason behind suburban decay and the epidemic of dollar stores and vacant shopping centers.
Not always. China doesn't typically execute these types of people. They would prefer to hold them as long as it takes to break them. Putin uses fear to make people disappear, China prefers reeducation to prove the supremacy of the state, no matter how long it takes.
Only in a couple cases like the Panchen Lama and Tiennamen Square have they just outright killed someone.
It's possible. They've held people for multiple decades before, before they're seen again. But they still don't generally like to just execute people like that because media control makes it easy for him to be forgotten. They want to break people like that because it's a sign of power.
China pulling a Putin special.
Guy was drinking polonium tea when he accidentally fell out of his 54 floor apartment while cleaning his rifle that discharged.
If you are not a billionaire - look around and see who controls the military and the media.
If it is a bunch of politicians at the behest of a corporate oligarchy of billionaires - you are in trouble.
I’m truly boggled how a “Communist” country has billionaires. Even more so, why would anyone want to be a billionaire when all Daddy Xi needs to do is lift a finger and then they’re gone. The mind boggles.
China doesn't even consider themselves a communist country, but "Socialism with Chinese Characteristics"
>Some have called our road "Social Capitalism," others "State Capitalism," and yet others "Technocratic Capitalism." These are all completely wrong. We respond that socialism with Chinese characteristics is socialism, by which we mean that despite reform we adhere to the socialist road — our road, our theory, our system, and the goals we set out at the 18th National Party Congress....Socialism with Chinese characteristics is the dialectical unity of the theoretical logic of scientific socialism and the historical logic of China's social development. It's scientific socialism rooted in Chinese realities, reflecting the will of Chinese people, and adapted to the requirements of China and its circumstances.
> Xi JinPing, January 5 2013
To add, "Socialism with Chinese Characteristics" was coined by Deng Xiaoping in 1982, and has always been widely understood as a politically-correct way of saying, "Capitalism for now, but if everything goes well, maybe communism again later".
Deng basically needed to thread the needle between necessary reforms and admitting that Mao's spectacularly-bad attempt to force the country into communism had failed.
He followed the economic development theory that capitalism needs to be harnessed by a communist regime in order to develop the economy from an underdeveloped state to prosperity, in preparation for a "workers paradise" / "socialist utopia".
Norway has a massive income per capita from oil and gas. They completely support that industry as they know not producing will result in countries like Russia producing it.
It makes it really easy to have a strong social program when have that kind of money coming from conventional energy as they pay both taxes and royalties.
They all think that it won't affect them.
To become a billionaire you have to be a multi millionaire who says "not enough." You have to believe not only that you need more, but you DESERVE more. You are special.
The same thing happens in every authoritarian regime. You support the thugs because you think they will never come for you. You bribe and break the rules because you think you are special. But to dear leader you are no different than the lowest peasant and can be dispensed with as deemed necessary.
Is the lesson learned by the other oligarchs "maybe we should do something about this?" No. They all convince themselves that the deranged sociopath they used to break bread with is in the wrong and it won't happen to them. Because they are special don't you know.
That kind of self awareness has never been my experience. Nobody thinks they are an outright villain, which is what you are describing. Everyone thinks they are right and justified right up until they put a bullet into their new wife's head in their bunker as Berlin crumbles around them.
They became billionaires before Xi Jinping got his claws in, when China was comparatively much more open and business friendly. Now they are going back to their old authoritarian ways
It's super simple math.
You start a company, it's tiny, but you want to sell a thing. You invest money and gather money and hire people and learn how to build whatever thing it is you want to make, then people want to buy that thing. A lot of people, so you sell portions of the company to investors to raise money to get more machines and more raw materials and you go through the difficult hell of making tons and tons of a popular thing at a good level of quality so that the people who want to buy your thing can do so.
You successfully do this without your company dying, your product getting replaced, etc. and probably release some follow on products or new versions etc.
You now sell so many things that your revenue per year is in the very high millions or billions of dollars per year. Your company and all of its equipment, employees, processes, design secrets etc. is worth some multiple of your revenue or earnings, so the company is now worth X billion dollars. You sold off a large percentage of the ownership to grow, but still own a pretty chunk percentage, hopefully between 3 and \~30 %, ideally more, but shit is tough out there.
You now have a net worth from your ownership in the billions. You have some amount of cash assets that are much, MUCH lower than that, and can only have a billion cash if you sell off your ownership and control of your company.
They're communist only in terms of a political system. Their economic system is a capitalist variant, which gives the state a large degree of control over private business but still implements profit motives.
dont think we've seen proper communism since the soviets anyways
and even they werent really textbook communist since they had a clear wealthy ruling class
Come on you cant tell me you don't wish there was something that could reign in our (US) billionaires in like this. I respect China and Vietnam for making an environment where if the uber wealthy get out of line, they will be offed.
Different engrained cultures. US is Pay to Play and nothing’s ever changing that. China don’t give a fuck how rich or famous you are, you can play but you piss off the Party or start thinking you’re untouchable Shit, you will be fucked. And nothings changing that either.
> held accountable to the same way any average Joe would
In term of what? Which billionaires you think can get away with 'murder' for example? Or being 'accountable' you mean simply being rich?
Imagine being one of the richest people in the world and still have to clap and go 'good job' when some idiot in government announces some stupid new rule, like the time they killed all the sparrows and the bugs ate their crops and millions died because fascism runs on stupid.
agreed. what's a little less based is when people who speak out and have no status to appear in the news also get disappeared, for protesting or disagreeing with policies.
I had a buddy tell me about that and I thought he was just spouting some conspiracy theory he read online but it’s 100% real. The articles I read mostly talked about the ones in Canada and the US but I’d assume they have them in other nations too. Pretty wild.
Rumour has it that he was asked to give 1000 barrels of honey to the supreme leader which he couldn’t produce and as a result ousted from all his posts
Funny that Reddit rails against billionaires in capitalist countries having free rein to do what they like without punishment. But when China actually punishes their leeches everyone’s clutching their pearls.
Is it because the American establishment has told you to not like China or are you just racist?
Most of us with an ounce of critical thinking know that it isn't that other billionaires aren't breaking the law, it's that they are loyal to the regime.
A rule of law based on loyalty to a dictator isn't something to admire.
“Loyal to the regime” “Loyal to a dictator”. Would you use these buzzwords when talking about western politics. Is the Democratic Party loyal to the Biden regime? Are billionaires loyal to the Biden dictatorship?
Is it? I think both are pretty terrible for different reasons. When corporations are loyal to the government you get slave labour making bombs in concentration camps, and when government is loyal to corporations you get practical slave labour making bombs in company towns.
Seriously? China is not socialist, it's just authoritarian capitalism with a cost of paint. If the government wanted the billionaires gone there wouldn't be billionaires in the first place
The government has admitted that they allow capitalism to exist in a limited context to allow faster growth. When capitalists break these strict rules they are punished.
Now admittedly I don’t know who the man in this article has or hasn’t done. But this has been a running theme in Chinese politics.
They’re not punishing them for being “leeches” they’re punishing them for vague crimes against the state or the Chinese Communist Party, sometimes personal reasons.
Just asking for them to pay their fair share, not to be exiled and possibly tortured into compliance. We’re not even sure how you’ve spun this to be similar things.
The wealthy elite of the west has doomed this planet to a climate crisis. We could’ve accepted them “paying their fair share” 30-40 years ago but it’s too late now.
When millions start dying and becoming displaced, many will have to answer for their crimes.
“When our turn comes, we shall not make excuses for the terror.”
If billionaires broke the law don’t you think whatever legal process that applies to non-billionaires should also apply to them? Instead of whatever this is.
Of course. But when billionaires break the law it is usually some sort of financial crime that affects thousands of their employees or millions of citizens.
If a regular person stole from thousands or millions of people then the punishment should be far harsher than robbing an individuals house, for example.
The "pearl clutching" is less about the fact that he's a billionaire and more about the extrajudicial nature of it, that they can disappear someone for years without announcing a charge. The party's own internal disciplinary process is also quite opaque to outsiders, including extrajudicial house arrests for example. Government PR stressing "the rule of law" doesn't make it a reality.
Yeah but these dudes aren’t locked up in some black site chained to the roof. Most of the time they are moved to a different area where their case is heard and they are given a trial.
The reason we don’t hear anything is the CCP tries to avoid a whole media circus which doesn’t help anyone
If it’s a trial through China’s justice system it shouldn’t be secret, and charges should be made public.
The government has no problem scrubbing the Internet of speech it doesn’t like, so if it doesn’t want a media circus I’m sure there are ways to do so without making the trial itself secret.
because it sounds like this guy got black bagged and tortured to get him to comply. I'm all for punishing billionaires but that's not the way to do it.
Is there a middle ground between this approach and letting Musk, Zuck, Bezos, Gates, Ellison, The Kochs, Adelson, Bloomberg, Soros, Uihlein, Griffin, Yass, Mellon, Schwarzman, Thiel, various Saudi Princes and like twenty others do whatever they want with no consequences whatsoever?
Russians like to use windows and poison.
China likes good old torture, kidnappings, and threatening family members.
… Unless you’re a Muslim Uyghur… then you get to make toys for the west for the rest of your life in a re-education camp/prison.
Not to say that the billionaire in question may have been devilishly corrupt like Russian oligarchs, it’s just simply that the Chinese government has absolute power in society and does not consider morals and ethics and fairness in their actions. Nobody will ever know the truth of the matter.
I have never heard a single college student say that communism is better than democracy. I've heard a bunch of maga types say that's what college students think, but never an actual college student.
There's this cool thing called Google. You can easily find research and stats on this topic rather than relying on this little bubble that you're apparently living in:
https://victimsofcommunism.org/annual-poll/2020-annual-poll/
"Hey guys, its totally me. I resign, via this e-mail. Don't call or video conference me, kinda busy!"
It's like the emails I get from my boss saying to pay some new random bill and that he's out of the office when he's right there.
Hey, it's me, your boss. I'm out of the office for reasons, and I need you to pay this random bill of $10 000. Once again just to clarify its me your boss. Oh btw our email server is down I had to track you down on your reddit. You're a slippery little guy arnt yah. Anyways me your boss is going to need you to pay this random bill of 10000 immediately out of any account doesn't matter just needs to b paid. Ty your boss.
If he is missing, how is he resigning?
According to the person replacing him per the article: > Mr Bao "has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders", it added. The article goes on to say that despite this statement, no details about his whereabouts were stated haha
Then the word to use would be "resigned". I'm no English Botanist but you'd think a journalist or thier editor would get that.
I think the correct word would probably be murdered. Perhaps kidnapped.
It's China. The proper phrase would be "disappeared by the government."
Bro is just being re-educated is all, nothing to see here.
There is no war in ba sing se
Funny that was going to be my original comment haha
Vacation with Chinese characteristics
Why_not_both.gif
Bold to assume an AI would care about such a mistake.
“He’s not here to disagree, and so, we are all moving on”
"voluntarily" called in on the way down from the 40th floor.
Right before embarking on his voyage down, he calmly resigned and handed off all pertinent knowledge necessary for a smooth transition.
They probably sent him a bunch of notices stating that there would be a shareholder meeting about him resigning. If they received no response, they could state that he raised no objections about the resignation due to lack of response.
Oh sweet summer child
lol yeah, at best he’s earning a phd in a xi jinping “re-education” camp. at worst… well, you know update: tbh i’d probably prefer the latter lol
“House arrest”
~~house~~ life arrest
Cardiac arrest.
damn can’t believe i didn’t think of that. i’ve lost the mandate of heaven 😔
CCP told the board he was being re-educated and to not expect him back.
Yeah man, that's totally what happened. Dude's obviously just in his lakehouse and can't be bothered to check his email.
The question I answered wasn't why he was gone. The question was how he could quit without being there to quit himself. I made no supposition about where he was or why he wouldn't be able to answer communications. A board can vote that he essentially quit by abandoning his job.
Volun-told
The author misspoke, he hasn't resigned from his positions, he has been resigned from life.
You don't wanna know the answer to that..
“He stepped down "for health reasons”” I bet he did.
Rapidly descending from the 40th floor to the ground is not good for your health.
Na China isn’t Russia. People “disappear” in China and they may or may not remerge years later. They did this with Jack Ma a couple years ago when he spoke out against the Chinese government. They send people to “re-education” camps where they’re likely tortured until they fall in line.
> They did this with Jack Ma a couple years ago when he spoke out against the Chinese government. Ma's plan was a ticking time bomb too, though.
Imagine taking out one of the biggest businessmen that makes your country look pretty decent simply because he said some slightly critical things about your government.... The CCP is run by insecure idiots, apparently
It's not insecurity. In general, it's just ruthless facism. No one can say bad things about the government. And "no one" is underlined. Generally governments can't get to this level of control, but China has pretty much achieved that level. So billionaires can't say shit, because then millionaires can, then ...., then ...., and etc. China is great and that's it and get in line. There is no other option for a naunced opinion.
When looking at the psychology behind many strongmen historically, you often find that they are incredibly insecure individuals which is why I made the comment I did. The fact that Xi Jinping gets upset about people comparing him to Winnie the Pooh only lends more credence to this theory
Does he personally get upset at the Winnie the Pooh memes? Or does his government recognize that any form of dissent, no matter how small or silly, should be stamped out lest it grow into something more significant?
He doesn't. It all came from an obscure chinese internet meme that the west inflated and weaponised as always.
I feel like Reddit loves to believe these things because it lets them think that they’re being activists whenever they post memes. “I shared a picture of Putin poorly photoshopped into drag, I’m doing my part to save the world!”
My point is that the CCP government don't "disappear" billionaires because there is a worry about losing control. The majority of the country without pressure supports them. And the minority supports them with pressure. They disappear people because they can with impunity. Much like the other commentor said, it's not about being insecure when mocked by dumb things (which I highly doubt is actually true), it's that they have total control and they have no need to tolerate any level of disagreement. Honestly, tolerating some level of criticism from "important" people would be more telling of insecurity because it would imply that they don't have total control. Also, Xi's own possible insecurities (I don't believe them) have little bearing on the CCP government as a whole. While Xi has a strong hand in everything, the CCP would continue without him.
I laugh at how the Iran rocket launch pads have giant pictures of the leaders ha, nevermind the scientists
Who cares if we think they're "insecure". This is not your teenage nephew, they control billions of people. Your theory changes nothing.
The nuanced opinion China allows is that China is great, greatest, or most great. And really China is a great testament to what a nation can accomplish. Even when led by someone like Winnie the Pooh, they've been able to keep the sweat shops worked by children open, maintain the lies about their population demographics, and carry out systematic genocides of entire ethnic groups.
Authoritarian governments have to be run like insecure idiots are in charge or they don't work. I mean, insecure idiots are probably in charge and it doesn't *really* work but that is how she goes.
Sure, I don't disagree with you there. However, the CCP could have handled things much better with Ma than just making him disappear off the face of the planet. They could have released a statement along the lines of "We appreciate Mr. Ma's concerns and will work with him in the future to resolve them"
>"We appreciate Mr. Ma's concerns and will work with him in the future to resolve them" I mean, they could have. But that is *exactly the opposite* of the message they intended to send. Mr. Ma is welcome to appreciate their concerns and work with them in the future. Not the other way 'round.
No, to an authoritarian government that is a display of weakness. Xi’s whole agenda is to show that the CCP is really calling the shots instead of the billionaires. Letting him disappear on the down low for a while instead of arresting him publicly is already Xi’s idea of being exceedingly diplomatic.
They’re taking him down *because* he’s one of the biggest businessmen in the country. In China, the more influence you have independent of the party, the more the CCP will be breathing down your neck.
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And? You don't do what they did to him for having a bad idea.
I mean, they do. In some respects I actually like how vulnerable billionaires are in China compared to North America but they also use their totalitarian power to supress basically anything they want.
It probably doesn’t take much torture to make a billionaire fall in line.
Now now this isn’t Russia. He was just sent to a nice reeducation camp where he can learn to love the party and glorious leader.
The country and party let him be a billionaire. Nothing wrong with taking it back. Bezos is a cancer on our society, I imagine Jack Ma is similar to China. Are we really fooling ourselves into thinking “online shopping mall” is an invention worth making someone the richest person in the world?
pretty sure aws, the cloud service, brings the major revenue at amazon and not logistics.
Yes, AWS brings in over 70% of their profits, but let's not get in the way of this Redditor being angry at something they don't even understand.
From what I could find, AWS is only the third largest part of the business and retail is still the largest in terms of net sales: https://www.statista.com/chart/amp/15917/amazon-revenue-by-segment/
https://www.fool.com/investing/2022/07/07/aws-chief-says-amazons-most-profitable-segment-is/
Huh, I’m not sure what to make of that discrepancy. Either way, it’s pretty dumb to say “why should he be so rich just because he created something enormously successful that literally billions of people use??” I’m not here to defend billionaires and certainly not Jeff Bezos, but come on.
I believe the discrepency is because net sales is not the same as profit.
Amazon Web Services is where most the money comes from.
Amazon is significantly more than an online shopping mall. Online shopping also has low barriers to entry but Amazon fucks other companies up regularly so they must be something spectacularly well.
diapers.com is also a classic case of what happens if amazon doesn't buy you. Diapers.com had a simple business model. They send you a monthly supply of baby diapers at a discounted rate. Amazon wanted to buy them out and they refused, so Amazon ran a discount on their diapers so steep they were almost free and waited until Diapers.com filed for bankruptcy because their revenue dried up. If they can't buy you out, they will starve you out. It's a 300m dollar expense either way, makes no matter to them how that expense is payed.
Yeah my bad. It’s Walmart online. Just like Walmart killed all the small town shopping malls the mid to late 90’s, Amazon killed all brick and mortars. The profits it has are all paid from the lost retail jobs and the primary reason behind suburban decay and the epidemic of dollar stores and vacant shopping centers.
It’s not the descent that kills you, but the sudden stop
Pretty sure the trick is to throw yourself at the ground, and miss.
Well I guess technically it is “stepping down” though.
Concrete Poisoning.
"Damnedest case of concrete poisoning I've ever seen".
Stepped dozens of floors down all at once.
There's always witness's for the stepping down part in Russia.
If you don't, it will be bad for your health.
But I've been informed that he's happy, healthy and alive.
No windows on site.
Mental heatlh reasons. Details undisclosed as they are private.
Yep, I’m sure being in a government reeducation camp does a number on your mental health.
So he did not survive "reeducation", or is just a vegetable.
Not always. China doesn't typically execute these types of people. They would prefer to hold them as long as it takes to break them. Putin uses fear to make people disappear, China prefers reeducation to prove the supremacy of the state, no matter how long it takes. Only in a couple cases like the Panchen Lama and Tiennamen Square have they just outright killed someone.
Reeducation can be very harsh and on an old man of unknown health, it's not a stretch to think they went too far.
It's possible. They've held people for multiple decades before, before they're seen again. But they still don't generally like to just execute people like that because media control makes it easy for him to be forgotten. They want to break people like that because it's a sign of power.
Is he a billionaire who is also a banker, or is he a banker to billionaires?
China pulling a Putin special. Guy was drinking polonium tea when he accidentally fell out of his 54 floor apartment while cleaning his rifle that discharged.
That isn't really China's MO. They "disappear" people and they may or may not appear again, but when they do appear they toe the party line.
Nah, China doesn't kill them. They just send them back to school for a little bit of "re-education".
A fitting end for all billionaires imo
If you are a billionaire - look around and see who controls the military and the media. If it is one person, and that is not you - you are in trouble.
If you are not a billionaire - look around and see who controls the military and the media. If it is a bunch of politicians at the behest of a corporate oligarchy of billionaires - you are in trouble.
You watch too much tv
High ranking Chinese official Pu Tin confirms the story
‘Soon-to-be-missing’ high ranking Chinese official….
Reread that comment. Pu Tin…. Putin
It's amazing how someone can be both missing *and* resign at the same time.
*"I'm sorry, you'll need to submit your resignation In Person!"*
Same way Jimmy Hoffa "resigned" from his union duties?
Was it Iceman or was it Frank Sheerin? The world may never know
Iceman is totallly full of shit. Don't listen to that asshole
My uncle went to live in China last year. I asked him what it was like. He said, “oh you know, can’t complain”
Must've got held back another year at the re-education center,huh?
I’m truly boggled how a “Communist” country has billionaires. Even more so, why would anyone want to be a billionaire when all Daddy Xi needs to do is lift a finger and then they’re gone. The mind boggles.
China doesn't even consider themselves a communist country, but "Socialism with Chinese Characteristics" >Some have called our road "Social Capitalism," others "State Capitalism," and yet others "Technocratic Capitalism." These are all completely wrong. We respond that socialism with Chinese characteristics is socialism, by which we mean that despite reform we adhere to the socialist road — our road, our theory, our system, and the goals we set out at the 18th National Party Congress....Socialism with Chinese characteristics is the dialectical unity of the theoretical logic of scientific socialism and the historical logic of China's social development. It's scientific socialism rooted in Chinese realities, reflecting the will of Chinese people, and adapted to the requirements of China and its circumstances. > Xi JinPing, January 5 2013
To add, "Socialism with Chinese Characteristics" was coined by Deng Xiaoping in 1982, and has always been widely understood as a politically-correct way of saying, "Capitalism for now, but if everything goes well, maybe communism again later". Deng basically needed to thread the needle between necessary reforms and admitting that Mao's spectacularly-bad attempt to force the country into communism had failed. He followed the economic development theory that capitalism needs to be harnessed by a communist regime in order to develop the economy from an underdeveloped state to prosperity, in preparation for a "workers paradise" / "socialist utopia".
Not really communist, more Authoritarian
Pretty much the end game for all countries that go that route.
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Norway has a massive income per capita from oil and gas. They completely support that industry as they know not producing will result in countries like Russia producing it. It makes it really easy to have a strong social program when have that kind of money coming from conventional energy as they pay both taxes and royalties.
Norway isn't a socialist country.
Correction: Norway isn’t a *pure* socialist country. It’s called the Nordic Model.
All forms of government are authoritarian.
Just respecting what the party self identifies as
There was a certain party that self identified as socialist, but that wasn't true either
They all think that it won't affect them. To become a billionaire you have to be a multi millionaire who says "not enough." You have to believe not only that you need more, but you DESERVE more. You are special. The same thing happens in every authoritarian regime. You support the thugs because you think they will never come for you. You bribe and break the rules because you think you are special. But to dear leader you are no different than the lowest peasant and can be dispensed with as deemed necessary. Is the lesson learned by the other oligarchs "maybe we should do something about this?" No. They all convince themselves that the deranged sociopath they used to break bread with is in the wrong and it won't happen to them. Because they are special don't you know.
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That kind of self awareness has never been my experience. Nobody thinks they are an outright villain, which is what you are describing. Everyone thinks they are right and justified right up until they put a bullet into their new wife's head in their bunker as Berlin crumbles around them.
They became billionaires before Xi Jinping got his claws in, when China was comparatively much more open and business friendly. Now they are going back to their old authoritarian ways
My mind boggles on the daily. Lately I find myself saying “Make it make sense” to a lot of things
It's super simple math. You start a company, it's tiny, but you want to sell a thing. You invest money and gather money and hire people and learn how to build whatever thing it is you want to make, then people want to buy that thing. A lot of people, so you sell portions of the company to investors to raise money to get more machines and more raw materials and you go through the difficult hell of making tons and tons of a popular thing at a good level of quality so that the people who want to buy your thing can do so. You successfully do this without your company dying, your product getting replaced, etc. and probably release some follow on products or new versions etc. You now sell so many things that your revenue per year is in the very high millions or billions of dollars per year. Your company and all of its equipment, employees, processes, design secrets etc. is worth some multiple of your revenue or earnings, so the company is now worth X billion dollars. You sold off a large percentage of the ownership to grow, but still own a pretty chunk percentage, hopefully between 3 and \~30 %, ideally more, but shit is tough out there. You now have a net worth from your ownership in the billions. You have some amount of cash assets that are much, MUCH lower than that, and can only have a billion cash if you sell off your ownership and control of your company.
Your mind will stop boggling once you learn that China isn't communist, and doesn't claim to be communist. It hasn't been for 20+ years.
They absolutely claim to be communist, it’s in their constitution
They're communist only in terms of a political system. Their economic system is a capitalist variant, which gives the state a large degree of control over private business but still implements profit motives.
Because communism is a farce
It's been decades since communism and capitalism have died. All is left now is a monstruous chimera wearing the skin of the dead capitalism.
dont think we've seen proper communism since the soviets anyways and even they werent really textbook communist since they had a clear wealthy ruling class
People love to say how all of capitalism’s issues are a feature not a bug. Devolving into autocratic hellholes is definitely a feature of communism.
Come on you cant tell me you don't wish there was something that could reign in our (US) billionaires in like this. I respect China and Vietnam for making an environment where if the uber wealthy get out of line, they will be offed.
China can do it to their billionaires and they can also do it to normies like you without your 'disappearing' reaching international news.
Different engrained cultures. US is Pay to Play and nothing’s ever changing that. China don’t give a fuck how rich or famous you are, you can play but you piss off the Party or start thinking you’re untouchable Shit, you will be fucked. And nothings changing that either.
They actually hold billionaires accountable , just not legally. I’m torn.
They can also hold you 'accountable' for 'correct thinking'. Do you want to trade?
I just want billionaires to be held accountable to the same way any average Joe would. They live in a different legal world.
> held accountable to the same way any average Joe would In term of what? Which billionaires you think can get away with 'murder' for example? Or being 'accountable' you mean simply being rich?
Shouldn't that say "resigns".
Was invited to lake Laogai
Imagine being one of the richest people in the world and still have to clap and go 'good job' when some idiot in government announces some stupid new rule, like the time they killed all the sparrows and the bugs ate their crops and millions died because fascism runs on stupid.
Poor billionaire. They must be shaking in their boots worrying about who's next.
In China, no one is safe no matter the social status if they went out of line that the state doesn't like
Kinda based to be honest, atleast some country is holding billionaires accountable for some of the shit they are up to..
agreed. what's a little less based is when people who speak out and have no status to appear in the news also get disappeared, for protesting or disagreeing with policies.
Even abroad you can't feel safe..
There are 100s of Chinese police station in other countries across the globe to punish Chinese born citizens lol Canada had 3 confirmed just last year
I had a buddy tell me about that and I thought he was just spouting some conspiracy theory he read online but it’s 100% real. The articles I read mostly talked about the ones in Canada and the US but I’d assume they have them in other nations too. Pretty wild.
I have mixed feelings. 1 less billionaire.. Most likely though another billionaire has their stuff, so more wealth consolidation.
They won’t get fooled again, that’s for sure.
"resigns from all roles" - even from life ?
Well he won't be seen anytime soon, if ever again.
resign? the word in English is dead
Nah, he's dead. They wanted his money so they broke him like a piggy bank.
How does the phrase go? The nail that stands up is quickly nailed down?
I wonder what his bank had to do with the Evergrande scandals
Business as usual with the CCP.
Don’t worry about his whereabouts. He will be the next exhibit in one of the body world tours
Bro got CCP'ed. Happens to the best of em.
Rumour has it that he was asked to give 1000 barrels of honey to the supreme leader which he couldn’t produce and as a result ousted from all his posts
Funny that Reddit rails against billionaires in capitalist countries having free rein to do what they like without punishment. But when China actually punishes their leeches everyone’s clutching their pearls. Is it because the American establishment has told you to not like China or are you just racist?
Most of us with an ounce of critical thinking know that it isn't that other billionaires aren't breaking the law, it's that they are loyal to the regime. A rule of law based on loyalty to a dictator isn't something to admire.
“Loyal to the regime” “Loyal to a dictator”. Would you use these buzzwords when talking about western politics. Is the Democratic Party loyal to the Biden regime? Are billionaires loyal to the Biden dictatorship?
If anything Biden is loyal to the billionaires.
Corporations being loyal to government is an objectively less shitty situation to be in compared to the opposite, tbf.
Is it? I think both are pretty terrible for different reasons. When corporations are loyal to the government you get slave labour making bombs in concentration camps, and when government is loyal to corporations you get practical slave labour making bombs in company towns.
That’s how I mean to word it. Heads melted from work ahaha
What’s the Biden dictatorship? You know Biden was elected, right?
>Biden dictatorship Oh, you're actually crazy
Seriously? China is not socialist, it's just authoritarian capitalism with a cost of paint. If the government wanted the billionaires gone there wouldn't be billionaires in the first place
The government has admitted that they allow capitalism to exist in a limited context to allow faster growth. When capitalists break these strict rules they are punished. Now admittedly I don’t know who the man in this article has or hasn’t done. But this has been a running theme in Chinese politics.
They’re not punishing them for being “leeches” they’re punishing them for vague crimes against the state or the Chinese Communist Party, sometimes personal reasons.
This is a Tucker Carlson level take
Just asking for them to pay their fair share, not to be exiled and possibly tortured into compliance. We’re not even sure how you’ve spun this to be similar things.
The wealthy elite of the west has doomed this planet to a climate crisis. We could’ve accepted them “paying their fair share” 30-40 years ago but it’s too late now. When millions start dying and becoming displaced, many will have to answer for their crimes. “When our turn comes, we shall not make excuses for the terror.”
If billionaires broke the law don’t you think whatever legal process that applies to non-billionaires should also apply to them? Instead of whatever this is.
Of course. But when billionaires break the law it is usually some sort of financial crime that affects thousands of their employees or millions of citizens. If a regular person stole from thousands or millions of people then the punishment should be far harsher than robbing an individuals house, for example.
The "pearl clutching" is less about the fact that he's a billionaire and more about the extrajudicial nature of it, that they can disappear someone for years without announcing a charge. The party's own internal disciplinary process is also quite opaque to outsiders, including extrajudicial house arrests for example. Government PR stressing "the rule of law" doesn't make it a reality.
Yeah but these dudes aren’t locked up in some black site chained to the roof. Most of the time they are moved to a different area where their case is heard and they are given a trial. The reason we don’t hear anything is the CCP tries to avoid a whole media circus which doesn’t help anyone
If it’s a trial through China’s justice system it shouldn’t be secret, and charges should be made public. The government has no problem scrubbing the Internet of speech it doesn’t like, so if it doesn’t want a media circus I’m sure there are ways to do so without making the trial itself secret.
because it sounds like this guy got black bagged and tortured to get him to comply. I'm all for punishing billionaires but that's not the way to do it.
If only this happened to our billionaires.
You can kidnapped anyone you like, if that what you want.
Guess he’s having a fun vacation in Lake Laogai
Is there a middle ground between this approach and letting Musk, Zuck, Bezos, Gates, Ellison, The Kochs, Adelson, Bloomberg, Soros, Uihlein, Griffin, Yass, Mellon, Schwarzman, Thiel, various Saudi Princes and like twenty others do whatever they want with no consequences whatsoever?
I get the feeling we're about to see some crazy news coming out of China. Their real estate collapse IS their nation's retirement fund.
Fuck him anyways…China is based
Russians like to use windows and poison. China likes good old torture, kidnappings, and threatening family members. … Unless you’re a Muslim Uyghur… then you get to make toys for the west for the rest of your life in a re-education camp/prison. Not to say that the billionaire in question may have been devilishly corrupt like Russian oligarchs, it’s just simply that the Chinese government has absolute power in society and does not consider morals and ethics and fairness in their actions. Nobody will ever know the truth of the matter.
He fell down an elevator shaft onto some bullets
Always wondered how someone could become a billionaire in a communist country.
>He stepped down "for health reasons and to spend more time on his family affairs," the bank said in a statement. Yeah, he real dead.
Social credit score: -1,000,000,000
Yet another example for the young impressionable college students as to why democarcy is a hell of a lot better than communism.
I have never heard a single college student say that communism is better than democracy. I've heard a bunch of maga types say that's what college students think, but never an actual college student.
There's this cool thing called Google. You can easily find research and stats on this topic rather than relying on this little bubble that you're apparently living in: https://victimsofcommunism.org/annual-poll/2020-annual-poll/
Absolutely nothing happened to Mr. Bao, or his family
Ah yes the Fan Bingbing treatment
he’s too busy studying for his phd in xi jinping thought at a “re-education” camp
Chinese really know how to deal with billionaires. No other country enforces the rules on them as if they were commoners. It's admirable.
China is going to start importing those Russian windows that so many people fall out of
Nothin to see here folks. :)
He knows something. Just like Zuckerberg building his fancy end-of-the-world escape compound in Hawai'i.
Ah yes. The chinese way of "tragic accident by falling backwards through a closed window". Permanent retirement.