Ma, the founder of e-commerce and tech company Alibaba, enjoyed a charmed life of high-profile appearances and an overflowing bank account - Ma was reportedly worth $62 billion in 2020 at the height of his power, making him the richest man in China.īut in October 2020, he criticized China's financial regulatory system, suggesting that Chinese banks were crawling along behind the times, continuing to follow global rules that are part of "an old people's club." Perhaps no one knows that better than Jack Ma. Companies or individuals who seemingly rise too high and supersede the power and/or authority of the Party-state will be subjected to some form of punishment," Jennifer Hsu, a researcher of public opinion and foreign policy at the Lowy Institute, told Insider. "The government campaigns over the last year - whether focused on celebrities or education tutoring companies - demonstrate the Chinese Party-state is the final arbiter of power. And the chess game itself goes on inside a highly impenetrable black box," Perry Link, an emeritus professor of East Asian studies at Princeton University, told CNN.Įxperts told Insider the Politburo - the highest decision-making body of the Chinese Communist Party - and its top members are the ones who are really in control in the country, despite the clout that high-profile Chinese billionaires seem to hold. "What people really think is opaque beneath the chess game that they play. Observers have intently watched China's displays of strength at its military parades looked into the tea leaves to predict China's line of succession post-Xi and scrutinized seating charts to suss out government officials' proximity to the pinnacle of power. Given the heavy censorship and control over state-linked media outlets in the country - it's nearly impossible to know what's really happening in China's halls of power.
But the men who surround him also wield immense political clout. He may now rule for life and continue regulating the country of 1.4 billion people with a tight grip on military reform, cybersecurity, and internet censorship.Ĭhinese President Xi Jinping sits securely at the nexus of power in China. Having removed constitutional term limits on his role, Xi has positioned himself as the most powerful leader since Mao Zedong.
The nexus of China's elite is often obscured by what appears to be the overwhelming control and centralization of power in Xi's hands. In a country where the succession of power has happened both slowly and deliberately, Li's retirement could kick off a fundamental shift in roles among China's most powerful government body - the Politburo Standing Committee - and lead to further consolidation of power under Chinese leader Xi Jinping. That's because when the Chinese premier steps down from power in March 2023, a decision he confirmed in March, it will trigger a significant reshuffle in the upper echelons of the Chinese government. The authoritative record of NPR’s programming is the audio record.You may not have heard the name Li Keqiang before - but you likely soon will. This text may not be in its final form and may be updated or revised in the future. NPR transcripts are created on a rush deadline by an NPR contractor. Visit our website terms of use and permissions pages at for further information. For MORNING EDITION from NPR News, I'm Renee Montagne.Ĭopyright © 2009 NPR. And, let's face it, it features hamsters.Īnd that's the business news on this Christmas morning.
The Zhu Zhu Pets game will most likely be a whole lot less violent that's because Activision will be targeting young girls. Activision is the company behind this year's top selling video game, Call of Duty: Modern Warfare 2, a game where players get to engage in battle. The game maker Activision will come out with this new game next spring. They've been such hot sellers this year, stores have had to limit the number you can buy.
MONTAGNE: Zhu Zhu pets are those furry robotic hamsters, you might have noticed. And our last word in business will be the last words we'll utter about Zhu Zhu pets, at least for this year.
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