August 9, 2022



China created more billionaires than the U.S. Now it is cracking down.

NBC News

By Alexander Smith and Robbie Hu – September 5, 2021

Communist China has relentlessly pursued economic growth for decades, creating more billionaires than the U.S. and lifting 800 million people out of poverty but leaving 600 million more to live on $150 a month.

Now, President Xi Jinping is planning what some experts say would be a dramatic about-face, trying to restructure Chinese society by cracking down on the country’s newly minted super-rich and redistributing wealth more evenly among the population of 1.4 billion.

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