The current political leadership of China represents the greatest looting of a country by the political class ever seen in history

My headline is a quote from The Looting of China by the Kleptokapitalist Bourgeoisie Roaders

The article mentions standard business practices such as

it has been common (apparently) for steel traders to secure loans to buy steel then use this same steel as collateral to borrow funds to invest in property development and the stock market

In the Hurun Report released in March 2012—the richest 70 members of the government have a net worth of $89.8 billion, an average of over $1B each. This compares to $7.5 billion for the 660 for the US government, an average of $11M each. Furthermore, this does not take into account the wealth held by the families of these politicians.

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Posted on July 5, 2012, in Uncategorized and tagged , , , . Bookmark the permalink. 2 Comments.

  1. This article was liked by the China Daily Mail some 30 seconds after publication. Robot!

  1. Pingback: It isn’t just China… « viverracapensis

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