Shenyang, China
One of China’s top businessmen was sentenced this week to 18 years in prison for fraud, bribery, and forgery—just hours before he was to launch a capitalist experiment in North Korea. Billionaire Yang Bin was a Chinese Horatio Alger story. Orphaned as a youngster, he joined the navy to travel and eventually became a Dutch citizen. He returned to China in the 1990s and amassed a fortune in the orchid trade. Last year, the North Korean government asked Yang to oversee an experimental free-trade zone along the Chinese border, but that project apparently did not have the approval of the Chinese government. With Yang in jail, the free-trade zone is now on hold.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Laura Lippman's 6 favorite books for those who crave a high-stakes adventureFeature The Grand Master recommends works by E.L. Konigsburg, Charles Portis, and more
-
Book reviews: 'Bad Company: Private Equity and the Death of the American Dream' and 'Desi Arnaz: The Man Who Invented Television'Feature Private equity and the man who created 'I Love Lucy' get their close-ups
-
Can Texas redistricting save the US House for the GOP?Today's Big Question Trump pushes a 'ruthless' new plan, but it could backfire
