The Chinese ruling class, a self nominating oligarchy that inherits the mantle of the red guard and Mao, is now hiding its wealth overseas. The International Consortium of Investigative Journalists (ICIJ), obtained more than 200 gigabytes of leaked financial data from companies in the British Virgin Islands. Read more at the Guardian.
Unlike any other government in the world, the Chinese State has a single political party that by law runs the state and owns most of the means of production. This is as if the Koch brothers were successful at officially buying the Republican Party and taking it private.
Actually, the Russian model is interesting to the Kochs because Russia is theoretically a democracy where an oligarchy, no longer named the Communist Party, owns almost everything. Of course in China, oligarchic rule is cleaner because it is a matter of law!
The worry for workers, that is “the people” working in China, is that their corporate bosses may be impressed more by the Kochs and by Putin than by good capitalists in the US … Costco may not be their model. Perhaps the leaders of Chinese Communist Party, Inc are taking lessons from Vladimir Putin and his estimated $40 billion dollars hidden in Swiss banks. On the other hand, we have yet to see President Xi hunting Pandas in his bear shirt.