Thursday, October 27, 2022

The Empire Flees China - Vox Popoli

 You won’t be told what’s actually happening by the globalist media, and you definitely won’t be told why it is happening. But their coverage of events is usually sufficient to alert the informed observer as to what is actually going on.

As the FT writes, today, “thousands of wealthy people across China are headed for the exits as President Xi Jinping secures a third term, making him and the ruling Chinese Communist party even stronger than before.”

Recall that just hours after Xi not only was declared dictator for life but unceremoniously and in full view of the entire world had his centrist, globalist and pro-reform predecessor Hu Zintao escorted out of the building, guaranteeing that the rest of his rule will be a radical departure from heretofore accepted norms, and calling for the “great rejuvenation of the Chinese nation” based on revitalizing the CCP’s role as the economic, social, and cultural leader, Chinese stocks cratered to multi-decade lows and the yuan plunged to a record low as the growing realization of the horror that is coming swept across the land.

As a result, China’s wealthiest were met with market turmoil on Monday when Chinese stocks crashed the most since 2008. According to Bloomberg’s billionaire list, the 13 richest Chinese lost $12.7 billion in just one day after mounting fears about Xi’s consolidation of power. But of course, it wasn’t just them looking terrified at the glowing green color on their screens (as a reminder, in China stock colors are inverted as red means up and green means down): it was everyone.

In any case, as hundreds of millions of Chinese savers now scramble to move as much of their assets as far away off shore from the lunatic fringe in Beijing as possible, we have been flooded with reports that wealthy families across Hong Kong and China are at a “tipping point” about triggering so-called financial “fire escape plans” to avoid the wrath of Xi and CCP, according to David Lesperance, a Europe-based lawyer who works with elite Chinese businessmen and who spoke with Financial Times.

“Now that ‘the chairman’ is firmly in place . . . I have already received three ‘proceed’ instructions from various ultra-high net worth Chinese business families to execute their fire escape plans,” Lesperance said.

Ignore all the rhetoric and the neo-liberal economic assumptions and focus on what the various parties mentioned are doing. What’s actually taking place is that The Empire That Never Ended, which intended to transfer its global center of power from Washington DC to Beijing, has finally abandoned its attempts to do so.

Xi Xinping was seen as an impediment, not an implacable obstacle, but the confirmation of his continuing power in the CPC and his ongoing anti-corruption campaign means that the imperial plans for China have failed. Ukraine appears to be the backup plan, but that is failing too, thanks to the Russians and their stubborn refusal to submit to the imperial order.