China Censors Discussion Of Panama Papers Showing President’s Family Members With Millions in Foreign Bank Account

It appears that the Communist censors of China are concerned about more than just discussion of the absence of civil liberties. It appears that one of the greatest concerns for Communist censors is any proof that its Communist leaders are capitalists. Networks like Sina Weibo and Wechat have deleted all discussion of the Panama Papers leak which names several members of China’s elite, including President Xi Jinping’s brother-in-law, as hiding huge amounts of money in foreign accounts. Mao warned that “There is a serious tendency towards capitalism among the well-to-do peasants.” It appears that the well-to-do peasants have discovered foreign bank accounts.

The leaked papers from Panamanian law firm Mossack Fonseca, mention Deng Jiagui, who is married to Mr Xi’s older sister. Dang and his wife reportedly are sheltering hundreds of millions of dollars in real estate, share holdings and other assets.

Deng appears to have soared in profits and investments just as Xi was rising in politics, including the purchase of two companies.

The result is that Mao’s successors have discarded his economic precepts while hanging on to the authoritarian powers.