Saturday, September 21, 2013

The Coming Collapse of Chinese Communism

A story that will gladden the heart of Gordon G. Chang runs in the Financial Times this morning, as eyebrows are being raised over the future of Chinese Communism - such as is it - at the Party School of the Central Committee of the Communist Party of China.
A more significant change for an institution founded to enforce ideological purity is its relatively new role as an intellectual free-fire zone, where almost nothing is off-limits for discussion. “We just had a seminar with a big group of very influential party members and they were asking us how long we think the party will be in charge and what we have planned for when it collapses,” says one Party School professor who asked not to be named because he was not authorised to speak to foreign media. “To be honest, this is a question that everyone in China is asking but I’m afraid it is very difficult to answer.”

The blossoming Chinese middle class are a much different breed than the founding fathers of the People's Republic, with disposable incomes and a penchant for western "luxury goods".  The growing number of Chinese officials that have offshore bank accounts and property is a clear sign that they are ready to "bolt at a moment's notice", ready to leg it to another country should the system show signs of crumbling.
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