Teaching Comparative Government and Politics

Friday, March 08, 2013

One Chinese characteristic of socialism

Back in 1992, supreme leader Deng Xiaoping said, "The country should allow some regions and people to get rich first and then gradually push for common prosperity." Well, the first part of that is happening.

Chinese National People’s Congress has 83 billionaires, report says
The legislature of the world’s last major communist country is almost certainly the wealthiest in the world, according to a popular rich list that names 83 dollar billionaires among the delegates to China’s parliament this year.

Meanwhile, in the United States, there is not a single billionaire in the House of Representatives or the Senate…

Given the difficulties involved in calculating the hidden wealth of many of China’s top leaders and their families, analysts say the Hurun report probably seriously understates the true number of super-wealthy participants in the political sessions…

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