For decades, China¡¯s business class had an unspoken contract with the Communist Party: Let us make money and we¡¯ll turn a blind eye to how you use your power.
Like most Chinese people, they bought into the party¡¯s argument that its one-party rule provides more efficient governance.
Now, the tacit agreement that entrepreneurs had come to count on is dissolving in front of their eyes. China¡¯s leader, Xi Jinping, used an important Communist Party congress last month to establish near-absolute power and make it clear that security would trump the economy as the nation¡¯s priority.
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