Documentary Insight - 100 Years of the Chinese Communist Party Project 'Red Capitalism' 2-part series ----------------------------------------------------------------------------------------- Part 1 'Ma Yun and the Red Capitalists' June 24, 2021 (Thu) 10:00 PM Part 2 'The Communist Party Went to Wall Street' July 1, 2021 (Thu) 10:00 PM With a population of 1.4 billion, the world's second-largest GDP, and a G2 country, China has emerged as an emerging power that leads the global economy along with the United States. Last year, China was the only major country in the world to record growth even during the Great Depression caused by the pandemic. This year, China celebrates a national anniversary on July 1: the 100th anniversary of the founding of the Chinese Communist Party. To mark the 100th anniversary of the Communist Party, the center that supports this great nation called China, we will look into China's present and future through the keywords 'the Communist Party and capital.' Part 1 examines how the Communist Party and capital have 'coexisted' since the founding of the party, focusing on the disappearance of Alibaba founder Jack Ma. Part 2 sheds light on the collusion between Wall Street, the center of American capital, and the Communist Party. Through the transactions of 'money' that take place beyond the fierce US-China trade war, we predict the future of US-China relations and the flow of the global economy. 🇨🇳Part 1 'Jack Ma and the Red Capitalist' ∎The 'God of Money' Jack Ma Disappears Jack Ma, the founder of Alibaba, the world's largest online commerce platform. He suddenly disappeared in November 2020, ahead of the IPO (initial public offering) of Ant Group, an Alibaba fintech company that would be the largest ever. Ant Group's listing was canceled, and Ma's broadcasts and external activities were suspended. Speculations were raised that the Communist Party intervened due to the 'problematic remarks' he made during his speech at the Shanghai Financial Summit held on October 24 last year. “Riskless innovation itself is an act of destroying innovation. There is no riskless innovation in this world. The ‘pawnshop’ mentality of taking collateral cannot support the finance needed for global development in the next 30 years.” Jack Ma / Speech at the Shanghai Financial Summit - ∎The Star of the Chinese Communist Party, Red Capitalists How has the Communist Party treated capitalists over the past 100 years? ‘Red capitalists’ Long Yiren, who went from being a national capitalist to a collaborator of the Communist Party, then a traitor to the Communist Party, and was resurrected just before death; Liu Chuanzhi, a researcher at the Chinese Academy of Sciences, a state-run institution, who founded Lenovo with support from the government; and emerging capitalists such as Zhong Qinghou, chairman of Wahaha Group, China’s largest food and beverage company. From the early days of the founding of the People’s Republic of China to the present, how the Communist Party and capital colluded, checked, and created today’s China. We look into the ‘red capitalism’ of the Chinese Communist Party by following the actions of capitalists. 🇨🇳Part 2 'The Communist Party Goes to Wall Street' In February 2018, when President Trump's public pressure was in full swing, President Xi Jinping's economic advisor Liu He showed up at a hotel near the White House. He secretly met with key figures in the American financial world. They were Wall Street heavyweights such as BlackRock Chairman Larry Fink, Goldman Sachs CEO David Solomon, and JP Morgan Chase Chairman Jamie Dimon. What does this honeymoon between Wall Street and the Chinese Communist Party in the midst of the US-China trade war mean? ∎'Old Friends' The United States and the Chinese Communist Party In the early days of the founding of the People's Republic of China, the Communist Party attempted to introduce American capital to achieve economic independence. However, China's participation in the Korean War and the resulting economic sanctions severed relations with the United States. The Chinese Communist Party, which had been steadily waiting for an opportunity, finally opened the door in 1971 with US President Nixon's visit to China. After this, the Chinese Communist Party began to approach Wall Street in earnest. By asking Wall Street to list state-owned enterprises such as China Telecom on the stock market, they attract American capital. After the reform and opening up, a “symbiotic cartel” was formed between Wall Street and the Chinese Communist Party. ∎ How long will the honeymoon between Wall Street and the Communist Party continue, amid crises and reversals? China, which regarded the United States as its economic mentor, learned capitalism and continued rapid growth. However, everything changed starting with the 2008 global financial crisis. While the United States was struggling, China played a decisive role in leading the global economic recovery with large-scale economic stimulus measures. Now, China prides itself on being a country that leads the global economy on par with the United States. Since then, the confrontation between the United States and China has intensified, and a trade war has begun. However, the Communist Party has not let go of its hand with Wall Street. Can Wall Street remain the Chinese Communist Party’s most powerful “old friend”? KBS documentary Insight that looks into the 100 years of the Chinese Communist Party from the perspective of 'capital' - The 'Red Capitalism' series, a project to cover the 100 years of the Chinese Communist Party, consists of Part 1, 'Ma Yun and the Red Capitalists' and Part 2, 'The Communist Party Goes to Wall Street', which will air on KBS 1TV at 10 p.m. on Thursday, June 24 and July 1, 2021, respectively. #RedCapitalism #Ma Yun #RongYiren #XiJinping #China #CommunistParty #Capitalism