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Ant Financial is owned by Alibaba and Jack Ma. Alibaba is founded and owned by various communist party members. Jack Ma is a communist party member. Ant Fina

Ant Financial is owned by Alibaba and Jack Ma. Alibaba is founded and owned by various communist party members. Jack Ma is a communist party member. Ant Financial is essentially co-owned by the Chinese Communist Party. In order to encourage a failing economy, trap more consumers in debt (China has an outrageous 400%+ total debt to gdp) and prevent unrest, CCP is giving a $7 credit limit to its 700M people in poverty. Whether it works or not is debatable, as Chinese consumers are already neck deep in debt and hurting from rising inflation

9nGQluzmnq3M 7y ago
There are close to 100 million CCP members, and virtually every successful businessman in China is a member. Alleging that this app is some deep conspiracy by CCP top brass is both unlikely and unhelpful, especially given that the Party has been clamping down on loans elsewhere.
- antielectronite 7y ago
  You think that it's a coincidence that every successful businessman in China is a CCP member?
  - 9nGQluzmnq3M 7y ago
    No, I'm just saying membership is a logical step to take for every Chinese businessman, and doesn't imply very much about their actual ideology or the degree to which their actions are dictated by the party.
  - dragonelite 7y ago
    Or maybe successful businessmen just want to buy influence in what ever system they are operating. In a democracy you donate or lobby parliament, in a one party system you become part of the party to get closer to the people in power. Seems pretty smart of businessmen if you ask me, not saying i'm condoning that behavior. But then again im not a successful businessman.