For decades, the Communist Chinese Party (CCP) have warned that they will seize back Taiwan, vowing to bring the sovereign state that has never in its history been under the yolk of the Chinese – under the control of Beijing, by force if necessary.
Taiwanese leaders have always rejected the statements made by China, but there may be coming a time where those threats can no longer be ignored.
It is no secret that China has become very powerful, especially over the past two decades, rising to become the number two superpower after the United States, thanks in part to former President Bill Clinton opening the market further for trade with China in the 1990s.
According to the Wall Street Journal, Chinese leaders have told the country’s elite to pull all their assets out of the West, due to the sanctions put on Russia because of the Ukraine invasion.
WSJ reported specifically:
China’s Communist Party will block promotions for senior cadres whose spouses or children hold significant assets abroad, people familiar with the matter said, as Beijing seeks to insulate its top officials from the types of sanctions now being directed at Russia.
The WSJ suggested, however, that the move was more related to internal politics:
The ban, outlined in an internal notice by the party’s powerful Central Organization Department, could play a role in Chinese leader Xi Jinping’s efforts to increase his influence at a twice-a-decade leadership shuffle scheduled for later this year.
Chinese assets held in the West, however, have always been seen as strategic as the CCP will do anything to increase its power.
Issued in March, the directive bans spouses and children of ministerial-level officials from holding any real estate overseas or shares in companies and entities registered overseas, according to the WSJ.
“Senior officials and members of their immediate families would also be barred from setting up accounts with overseas financial institutions unless they have legitimate reasons for doing so—such as study or work—the people said,” the paper reported further.
“Leading cadres, especially senior cadres, must pay attention to family discipline and ethics,” Xi told the party’s top disciplinary agency in January. He added that officials must “lead by example in managing their spouses and children properly, being a dutiful person and doing things in a clean way.”
A pledge must be signed by senior officials, declaring they will be complying with the new rules being imposed – a move that will also give far more power to the communist regime.
President Xi is once again expected to win another five-year term as the head of the CCP. Xi is also adding people he knows he can trust, to become the most powerful leader China has seen for decades.
The signed pledges also ensure that officials keep in line with the party agenda, and they can be arrested for being in violation of any of those rules, including being disloyal and dishonest to the party.
“Since taking power in 2012, Mr. Xi has waged a high-profile campaign to fight corruption and curb displays of extravagance among officials, saying that the party faced an existential battle against moral decay within its ranks,” the WSJ noted further.
The pulling of assets from the West, however, may be because the Chinese plan to invade Taiwan and President Biden has pledged to defend them. If that happens and assets are still overseas they will be frozen – cripplingly the Chinese elite.