Beware of Wall Street big shots selling 'everything is fine in China' stories — it could come back to burn you
criticizing the central government's encroaching power over economic and social life. What Dalio's milquetoast mea culpa makes clear is that Beijing exerts more or less the same kind of control over billionairesits borders. Xi doesn't have to worry about criticism from Wall Street, because Wall Street is a silent partner in his political and economic agenda.
But Beijing isn't satisfied with simply having its big American investors keep their mouths shut about its authoritarian practices. It wants its US partners to lean on US lawmakers. Last month, the Chinese Embassy in Washington sent a letter to several American executives asking them to pressure US politicians not to pass legislation that would harm Chinese interests.
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