Los Angeles Business Journal

Heirs of Mao’s Comrades Are New Capitalist Nobility

Friday, December 28, 2012

Backing Deng Xiaoping two years after Mao’s death in 1976, a group of battle-hardened revolutionaries – who are revered in China as the “Eight Immortals” – wagered that opening China to the outside world would raise living standards, while avoiding social upheaval that would threaten the Communist Party’s grip on power. Bloomberg News provides a detailed look at how their heirs have became the country's elite class.