The factional back-stabbing has worsened even as the economy battles strong headwinds. In the wake of the near-bankruptcy of Evergrande Group, one of the largest real-estate conglomerates in the world, more property and financial firms are reportedly unable to service their multi-billion yuan debt burdens.
lørdag 16. oktober 2021
Early Warning Brief: Factional Strife Intensifies as Xi Strives to Consolidate Power
More evidence has emerged of a ferocious power struggle between China’s supreme leader, President Xi Jinping and powerful factions and personages including former Vice-President Zeng Qinghong and current Vice President Wang Qishan. Not-so-subtle instances of in-fighting among these influential figures and their cliques have emerged in the wake of the revelation last month by the semi-official NetEase and Sohu websites that several senior officials in the political-legal apparatus, which includes the police, the secret police and the courts, had plotted “sinister and treacherous” actions against a top party leader, generally thought to be Xi (See China Brief, September 23). (These articles have since been deleted from the Internet).
The factional back-stabbing has worsened even as the economy battles strong headwinds. In the wake of the near-bankruptcy of Evergrande Group, one of the largest real-estate conglomerates in the world, more property and financial firms are reportedly unable to service their multi-billion yuan debt burdens.
The factional back-stabbing has worsened even as the economy battles strong headwinds. In the wake of the near-bankruptcy of Evergrande Group, one of the largest real-estate conglomerates in the world, more property and financial firms are reportedly unable to service their multi-billion yuan debt burdens.
