Beijing Versus the Billionaire
China’s government and Hong Kong’s wealthiest man, the much-admired Li Ka-shing, have been waging an acidic spat – one that increasingly looks like a bitter divorce being played out in tabloid newspapers. The conflict comes down to politics. Li is showing too much independence, and China’s communist rulers do not like it one bit.
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BANGKOK – China’s government and Hong Kong’s wealthiest man, the much-admired Li Ka-shing, have been waging an acidic spat – one that increasingly looks like a bitter divorce being played out in tabloid newspapers. Indeed, Chinese media have lately been directing a relentless stream of vitriol at Li. His “crime”? Buying low in Europe and selling high in China – that is, acting like an investor.