Communist China Confiscating Wealth Like, So To Speak, There’s No Tomorrow


Source: newsbreak.com newsbreak.com

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Confiscating wealth — as Beijing did today in sentencing a Chinese-Canadian billionaire, Xiao Jianhua, after a mock “corruption” trial — might benefit President Xi, but it bodes ill for Xiconomics, and, more broadly, for Communist China’s future. Mr. Xiao, the founder of the Tomorrow Holdings conglomerate, was last seen in public in 2017, when authorities took him away in a wheelchair from a suite at the Hong Kong Four Seasons hotel. Today he was sentenced in Shanghai to 13 years in prison. Tomorrow Holdings was slapped with the largest fine in China’s history, $8.1 billion, which all but erased Mr....