Xi Jinping’s War on Billionaires: Corruption or Purge of Critics? | Vantage with Palki SharmaChina’s Boutique Investment Firm, Renaissance Holdings, has lost two thirds of its market value. Renaissance’s founder, the billionaire Bao Fan, was abducted and then put under investigation last year. Fan’s case is all too common in China, where Xi Jinping is waging a war on successful entrepreneurs. Xi has destroyed a number of China’s billionaires, as he continues to consolidate his hold on power and crackdown on dissent. Can foreign firms survive in China when even its homegrown businesses are constantly at risk?-
