What China leaders don’t want their citizens to know
FT has an article on China’s princelings setting up private equity funds and outsiders like Temasek Holdings have invested in them to benefit from their connections.
I am surprised by the number of princelings involved, although some may be talented but you can’t say for the rest. Will it turn out to be like Russia’s oligarchs who bought cheaply from Russia and make a fortune?
Lukily, Hu Jintao’s family is not involved, can he instill discipline if these princelings act illegally? Will the next leader,Xi Jinping, who is a princeling himself have the courage to rein them in?
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