In the countdown to the 2024 U.S. presidential election, with just five days left, both candidates from the two major parties are pulling out all the stops to campaign. The world’s richest person, Elon Musk, has personally endorsed the Republican presidential candidate, Donald Trump, emerging as one of the most influential supporters in Trump’s camp.
Meanwhile, what about the business tycoons in China? Analysts believe that the Chinese Communist Party (CCP) fears businessmen entering politics, as they could use their economic influence to infiltrate the political sphere and challenge the CCP’s monopoly on power. Under the Communist regime, businessmen are suppressed, and individuals like Musk would face censorship and imprisonment in China.
At 53 years old, Musk is the CEO of electric car company Tesla, CEO of SpaceX, a space exploration technology company, and owner of the social media platform X. Since declaring his support for Trump in July this year, Musk has invested heavily and dedicated a significant amount of time to campaign for Trump, particularly by hosting a series of town hall meetings in crucial swing states, leveraging his immense influence.
Regarding Musk’s support for Trump, Voice of America noted on Wednesday that the freedom in the U.S. allows entrepreneurs the right to openly express their political views, in stark contrast to Chinese entrepreneurs who tend to avoid discussing politics and remain silent.
On this matter, current affairs commentator Tang Jingyuan told The Epoch Times that the United States operates under a market-driven system, where businessmen and entrepreneurs can enjoy political rights like participating in politics and policymaking. They can even directly run for president, as exemplified by Trump.
“Under the Communist regime, businessmen and entrepreneurs have always been a cause of apprehension for the CCP, fearing they might seek political rights. Therefore, they are strictly monitored to prevent them from transitioning from business to politics and influencing the CCP’s monopoly on power and privileges,” Tang said.
Discussing the political rights of Chinese businessmen, Wang Guochen, a research assistant at the China Economic Research Institute, told The Epoch Times that the CCP suppresses the capitalist class, particularly since Xi Jinping consolidated absolute power and initiated policies favoring state-owned enterprises over private enterprises.
Former Taiwan National Assembly Representative and Indo-Pacific Strategy Advisor Huang Pengxiao expressed that in Western societies, entrepreneurs are highly respected and play a crucial role in democratic politics. Actions similar to Musk’s would be deemed incomprehensible in China, where such individuals would undoubtedly face repression and detention.
Huang cited instances from Taiwan where prominent figures like Terry Gou, founder of Foxconn, twice expressed intentions to run for president, and Cao Xingcheng, founder of TSMC, engaged in media roles to express anti-Communist sentiments. He noted a growing trend of entrepreneurs participating in politics in Taiwan.
Regarding Alibaba’s founder Jack Ma, who openly criticized the Chinese regulatory authorities for stifling financial innovation in 2020, subsequently facing crackdown by the authorities including a hefty fine in an antitrust probe, Huang viewed the CCP’s actions as not just warnings to entrepreneurs but a means of extracting wealth from them.
Chief Economist at Taiwan’s Taishin Financial Holdings, Li Chenyu, speaking to Voice of America, highlighted the U.S. as a traditionally business-centric nation, where a triangular relationship among industry, government, and academia prevails. Many Treasury Secretaries and government economic advisors in the U.S. come from Wall Street backgrounds.
In contrast, Wang Guochen remarked that the CCP represses businessmen, unlike the symbiotic relationship seen in the U.S. He emphasized the restrictions imposed on the capitalist class in China, where they must adhere to the Party’s directives, signifying a prolonged and stringent process to transition from a party member to a government official.
Wang noted, “Whether it’s Vanke or Evergrande, referred to as the ‘red-capitalists,’ they rise to power by aligning with political forces. Companies like Alibaba, which had good relations during Hu Jintao’s era, obtained certain privileges. However, with the change in leadership, they faced severe crackdown.”
Huang also discussed how within the framework of Marxist-Leninist-Maoist ideology in China, businessmen are classified as the lowest social stratum, viewed as exploiting or bourgeois class. Being under proletarian rule, where workers and peasants dominate politics, the capitalist class is regarded as an emblem of evil that must be supervised and reformed collectively by the Party and the masses.
“With such low social status, it becomes nearly impossible for them to hold official positions, which essentially represent the CCP’s privileges. Advancing to an official role requires political scrutiny, and due to their class background, businessmen are excluded,” Huang said.
Considering the system under the CCP, is it truly impossible for businessmen to engage in politics and hold official positions in China? Tang Jingyuan explained that at best, they can become members of the Chinese People’s Political Consultative Conference or receive a symbolic position as a delegate to the National People’s Congress, essentially becoming decorative figures for the CCP, subjected to strict control.
If someone like Musk were to emerge in China with millions of followers on WeChat, Tang Jingyuan suggested two scenarios: either their account would be shut down, or the individual would be co-opted and controlled completely by the CCP, essentially becoming a mouthpiece for the party and losing the freedom to express their true opinions independently.
Wang Guochen stated that prominent businessmen in China are essentially those the CCP permits or operates in special industries, emphasizing their obedience to the Party. Any deviation from the prescribed narrative could lead to immediate sanctions. For instance, Jack Ma has maintained a low profile or disappeared altogether after challenging the authorities, while former chairman of Huayuan Group, Ren Zhiqiang, is currently imprisoned for daring to confront the regime.
“If a figure like Musk were to emerge in China, it would undoubtedly provoke fear among the CCP, considering them a potential threat to national security,” Wang remarked.
Huang Pengxiao also mentioned that the CCP strongly opposes lateral connections, social or group affiliations, and especially the formation of factions. Individuals with considerable followings, beyond typical social media influencers, face deliberate suppression in various online platforms like WeChat in China. As soon as a business person amasses a significant number of followers, local national security agencies may summon them for a warning.
“Within the context of China’s political climate, discussing trivial matters unrelated to the broader agenda is generally acceptable, even following celebrities. However, matters relating to commerce, economic policies, international relations, or employment – all sensitive topics for the CCP – are deemed national security issues that should not be touched upon,” Huang stated. “Thus, the CCP does not allow any businessman to wield their influence freely on online platforms.”