China’s Anti-Corruption Czar, Accused of Corruption, to Step Down

The word “purge” comes to mind.

Such is high stakes political life in The Ultimate Crony Capitalist State.

(From The Washington Free Beacon)

China’s anti-corruption czar who is also the Communist Party official in charge of all financial policies will step down this week from his position on the powerful Standing Committee of the Politburo.

The official, Wang Qishan, for the past five years directed a vast anti-corruption campaign that struck fear into political and military leaders and ensnared scores of senior officials and thousands of lower-level Party cadres linked to corruption that observers says is an endemic feature of the current system.

The ouster of large numbers of Party officials also is widely viewed as a subterfuge for the consolidation of power by current supreme leader Xi Jinping—whose personal ideology was elevated to the status of a guiding Party “thought” this week during the major Communist Party congress in Beijing.

Ironically, Wang was exposed earlier this year as engaging in illicit financial practices by exiled dissident Chinese billionaire Guo Wengui, who regards the expected retirement of Wang as a victory for his campaign as a whistleblower of high-level Chinese corruption.

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