Duel between President Xi and Jiang Zemin Using China’s Economy as the Weapon

China’s economy is being wielded as a club by former leader Jiang Zemin’s faction as they face an onslaught from current leader Xi Jinping’s anti-corruption guns. (Kozini/123rf.com)
China’s economy is being wielded as a club by former leader Jiang Zemin’s faction as they face an onslaught from current leader Xi Jinping’s anti-corruption guns. (Kozini/123rf.com)

China’s economy is being wielded as a club by former leader Jiang Zemin’s faction as they face an onslaught from current leader Xi Jinping’s anti-corruption guns.

On Feb. 24 and 25, China’s stock market plummeted rapidly, as 1.3 trillion yuan (US$212 billion) disappeared. Shock rippled through the high levels of the Chinese Communist Party (CCP); the state council urgently ordered financial stability maintenance.

On March 1, the Xinhua News Agency published a report Supreme Procuratorate: This year the investigation will focus on railway, electricity, petroleum, telecommunications, and other monopolized industries. These are all monopolized by Jiang’s faction.

The report stated that cases that include leading organizations and cadres profiting from power and money exchanges, judicial branches abusing power for personal gain, investing in construction and real estate development, and monopolizing industries, such as the railroad, electricity, petroleum, and telecommunications industries, will be re-investigated this year.

In March 2013, Premier Li Kejiang openly criticized the Big Five central industries—PetroChina, Sinopec, CNOOC, China Telecom, and China Mobile—as being family-run businesses.

Jiang’s group has meddled in the investigation of Zhou Yongkang, continuously instigated various terrorist and violent incidents, and threatened to take everyone down with them. They are even willing to use China’s economy as a bargaining chip, destroying the financial system in order to save their own skins.

Currently, in leader Xi Jinping’s anti-corruption campaign, Bo Xilai, the central figure of a political coup, is serving life imprisonment. Zhou was also a member of that attempted coup and is under house arrest, while Zhou’s petroleum gang, Sichuan gang, and law and politics gang have all fallen. The evidence of Zhou’s major crimes, including a planned political coup, organ harvesting from imprisoned Falun Gong practitioners, and other major corruption cases, is in the hands of authorities.

Meanwhile, economic scandals of family members of former top cadres Zeng Qinghong and Jiang Zemin continue to surface. And the gun of anti-corruption is pointing at the ultimate top dog, Jiang Zemin.

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