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> What Xi is doing now, such as halting major IPOs because of perceived criticism from successful CEOs Let's be clear that the consensus now is that the regula

> What Xi is doing now, such as halting major IPOs because of perceived criticism from successful CEOs Let's be clear that the consensus now is that the regulatory changes were anticipated to come, and the power broker war manifested in halting ANT IPO. Of course, Xi is very likely to be responsible for the stop of ANT IPO (no one really can have a substantial evidence, because of the Chinese government's way of operation). But the worrying part is not that Xi has the power, he always has and will continue to have. One should be surprised if Xi somehow lost that power. The worrying part is that a unprecedented financial monster feed on the huge data harvested from Chinese citizens privacy (not that Xi really cares about privacy) and practicing a risky lending scheme that is larger than any equivalent US counterpart, were let to rush into IPO in less than 30 days. And can only be stopped by a dictator in a totalitarian country Everyone should be worried about the power wielded by private cooperation nowadays, they are able to challenge a totalitarian government. Image what they can do in a democratic country...

thaumasiotes 6y ago
> Everyone should be worried about the power wielded by private cooperation nowadays, they are able to challenge a totalitarian government. Image what they can do in a democratic country... Historically, major merchants won battles with the Chinese imperial government. Being "able to challenge" the communist party and lose is a step down.
- justicezyx 6y ago
  > major merchants won battles with the Chinese imperial government Enlighten me, please.
  - thaumasiotes 6y ago
    Trade in opium was illegal, and the merchants operated by bribing imperial inspectors. The government's desire to stop the trade in opium accomplished absolutely nothing. But if you want a more literal example of winning battles with the emperor, see https://en.wikipedia.org/wiki/Koxinga https://en.wikipedia.org/wiki/Koxinga .
    - justicezyx 6y ago
      Wow, this is an alternative version of the history I was taught during my high school, as well as Wiki. Lin Zexu [1] carried out destruction of opium stock at Humen [2]. It was mostly successful in destroying the flow of opium from one its major import source. And disturbed the traders. Eventually results into the 1840's Opium War which requires Britain intervene [3]. But fundamentally, the relation between opium trading and what we are discussing here is nonsensical. Opium trading is illegal, and hurting the people. It was invented to compensate the trade deficit of Britain [4]. It reflects little of the people's own judgement. Heck, one can reasonably state that Chinese people in 1840s are totally incapable of independent thinking, because of the long tradition of Chinese rulers' policy of "dumb down the peasants". [1] https://en.wikipedia.org/wiki/Destruction_of_opium_at_Humen https://en.wikipedia.org/wiki/Destruction_of_opium_at_Humen [2] https://en.wikipedia.org/wiki/Humen https://en.wikipedia.org/wiki/Humen [3] https://en.wikipedia.org/wiki/Opium_Wars https://en.wikipedia.org/wiki/Opium_Wars [4] https://en.wikipedia.org/wiki/First_Opium_War#Opium_trade https://en.wikipedia.org/wiki/First_Opium_War#Opium_trade
      - unityByFreedom 6y ago
        > Wow, this is an alternative version of the history I was taught during my high school, as well as Wiki. Lin Zexu [1] carried out destruction of opium stock at Humen [2]. It was mostly successful in destroying the flow of opium from one its major import source. And disturbed the traders. Eventually results into the 1840's Opium War which requires Britain intervene [3]. You describe what happened but not why. Merchants inside and outside of China wanted to exchange goods and imperial China wanted to restrict this. War was the result. > one can reasonably state that Chinese people in 1840s are totally incapable of independent thinking It's interesting that you say this because this is China's current position, that Chinese people in 2020 are too dumb for democracy. It's just another excuse used by those in power to subjugate the population. Embracing people's lack of knowledge and encouraging them to find good ideas on their own is a feature, not a bug.
        justicezyx 6y ago
        Again, what you said is like drug dealers want to trade drugs. That's not comparable to what ought to be discussed. You instead should focus on the fact that Qing dynasty had a very weak government, which is neither capable of manage her own internal affairs, nor defend herself from foreign invasions. That's totally different from Xi's China, which can rule China like a company forcing citizens to behave in certain manners, while also project it's influence far and deep.

thaumasiotes 6y ago

> Everyone should be worried about the power wielded by private cooperation nowadays, they are able to challenge a totalitarian government. Image what they can do in a democratic country... Historically, major merchants won battles with the Chinese imperial government. Being "able to challenge" the communist party and lose is a step down.

justicezyx 6y ago
> major merchants won battles with the Chinese imperial government Enlighten me, please.
- thaumasiotes 6y ago
  Trade in opium was illegal, and the merchants operated by bribing imperial inspectors. The government's desire to stop the trade in opium accomplished absolutely nothing. But if you want a more literal example of winning battles with the emperor, see https://en.wikipedia.org/wiki/Koxinga https://en.wikipedia.org/wiki/Koxinga .
  - justicezyx 6y ago
    Wow, this is an alternative version of the history I was taught during my high school, as well as Wiki. Lin Zexu [1] carried out destruction of opium stock at Humen [2]. It was mostly successful in destroying the flow of opium from one its major import source. And disturbed the traders. Eventually results into the 1840's Opium War which requires Britain intervene [3]. But fundamentally, the relation between opium trading and what we are discussing here is nonsensical. Opium trading is illegal, and hurting the people. It was invented to compensate the trade deficit of Britain [4]. It reflects little of the people's own judgement. Heck, one can reasonably state that Chinese people in 1840s are totally incapable of independent thinking, because of the long tradition of Chinese rulers' policy of "dumb down the peasants". [1] https://en.wikipedia.org/wiki/Destruction_of_opium_at_Humen https://en.wikipedia.org/wiki/Destruction_of_opium_at_Humen [2] https://en.wikipedia.org/wiki/Humen https://en.wikipedia.org/wiki/Humen [3] https://en.wikipedia.org/wiki/Opium_Wars https://en.wikipedia.org/wiki/Opium_Wars [4] https://en.wikipedia.org/wiki/First_Opium_War#Opium_trade https://en.wikipedia.org/wiki/First_Opium_War#Opium_trade
    - unityByFreedom 6y ago
      > Wow, this is an alternative version of the history I was taught during my high school, as well as Wiki. Lin Zexu [1] carried out destruction of opium stock at Humen [2]. It was mostly successful in destroying the flow of opium from one its major import source. And disturbed the traders. Eventually results into the 1840's Opium War which requires Britain intervene [3]. You describe what happened but not why. Merchants inside and outside of China wanted to exchange goods and imperial China wanted to restrict this. War was the result. > one can reasonably state that Chinese people in 1840s are totally incapable of independent thinking It's interesting that you say this because this is China's current position, that Chinese people in 2020 are too dumb for democracy. It's just another excuse used by those in power to subjugate the population. Embracing people's lack of knowledge and encouraging them to find good ideas on their own is a feature, not a bug.
      - justicezyx 6y ago
        Again, what you said is like drug dealers want to trade drugs. That's not comparable to what ought to be discussed. You instead should focus on the fact that Qing dynasty had a very weak government, which is neither capable of manage her own internal affairs, nor defend herself from foreign invasions. That's totally different from Xi's China, which can rule China like a company forcing citizens to behave in certain manners, while also project it's influence far and deep.