This week’s Bloomberg News expose on the so-called Eight Immortals is a case in point. Building on a June article tracing the accumulated wealth of the family of Xi Jinping, China’s next president, it described the vast fortunes being amassed by the offspring of the founding fathers who were instrumental in Mao Zedong’s rise to power in 1949. Mao changed the world by meeting U.S. President Richard Nixon, and Immortals such as Deng Xiaoping engineered the economic boom that has unfolded since then.
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