Why Xi Jinping is making nice with China’s tech billionaires
China’s Communist Party has a history of purging and then welcoming back senior officials. Deng Xiaoping was purged three times before leading the country out of Maoism in the late 1970s. Some cadres are welcomed back years after their death. Jack Ma, Alibaba’s founder, endured the modern version of a purge in 2020. The initial…