Power, Wealth Can Create a Toxic Brew

An article in Global Times warns against the so-called “red clans”:

“The red clans are in possession of abundant political resources and easy to obtain business opportunities and priorities,” the article said, adding that they are mainly engaged in basic industries, such as energy and trade that require government sanctions.

“The real estate industry is one of the favorites for red clans,” it said.

The magazine identified two other groups as part of China’s super rich – ordinary workers who obtain a fortune from nothing and businessmen administrating State-owned enterprises that offer stocks.

The most typical examples for the former are entrepreneurs in South China’s Zhejiang and Guangdong provinces, who without any identifiable social status, secure top spots in the fierce marketplace.

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