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Thu Dec 27, 2012, 05:25 AM

Heirs of Mao’s Comrades Rise as New Capitalist Nobility

http://www.bloomberg.com/news/2012-12-26/immortals-beget-china-capitalism-from-citic-to-godfather-of-golf.html

Lying in a Beijing military hospital in 1990, General Wang Zhen told a visitor he felt betrayed. Decades after he risked his life fighting for an egalitarian utopia, the ideals he held as one of Communist China’s founding fathers were being undermined by the capitalist ways of his children -- business leaders in finance, aviation and computers.

“Turtle eggs,” he said to the visiting well-wisher, using a slang term for bastards. “I don’t acknowledge them as my sons.”

wo of the sons now are planning to turn a valley in northwestern China where their father once saved Mao Zedong’s army from starvation into a $1.6 billion tourist attraction. The resort in Nanniwan would have a revolution-era theme and tourist-friendly versions of the cave homes in which cadres once sheltered from the cold.

One son behind the project, Wang Jun, helped build two of the country’s biggest state-owned empires: Citic (6030) Group Corp., the state-run investment behemoth that was the first company to sell bonds abroad since the revolution; and China Poly Group Corp., once an arm of the military, that sold weapons and drilled for oil in Africa.


Deng Xiaoping, center row third left, Yang Shangkun, center row second left, and Wang Zhen (center row third right) pose for a photograph with naval officers of the South China Sea Fleet at an undisclosed location on Jan. 26, 1984.

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Reply Heirs of Mao’s Comrades Rise as New Capitalist Nobility (Original post)
xchrom Dec 2012 OP
Coyotl Dec 2012 #1

Response to xchrom (Original post)

Thu Dec 27, 2012, 08:41 AM

1. kick

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