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Jack Ma’s Self-Exile Undercuts China’s Pitch to Private Business
- WiSaGaN 4y agoOne of the main event that lead to Jack Ma's decline of influence was he openly challengeed the banking industry regulation when regulators wanted to reign in the excessive leverage of his Ant Financial, and put tough requirement of risk management similar to those of Chinese banks to his firm. Eventually Ant Financial did get tougher requirements wanted by the regulators, thus preventing the company from leveraging too much. That may contribute to the fact that now US and European banks are in a crisis but not Chinese banks.
- WhereIsTheTruth 4y agoI disagree with the conclusion, to me that's the opposite, this proves that it doesn't undercut it
- abudabi123 4y agoWhen Jack M and Elon M were on stage together Jack M's thinking was outed ”dimensionless.“ His utility to ”Private Business“ is Communist Party camouflage or an untouchable blindspot while China's corruption was high. Left unchecked he would be the railroad robber baron tycoon in times past of the U.S.A. and the workers in China would be racked and stacked like those historical Panama canal workers or worked to your death concentration camps or deftly subtle genocide the media looks the other way in collusion they do to the Uighur.
- WiSaGaN 4y agoYou would think the bloomberg can at least fool people for one day: https://www.scmp.com/tech/big-tech/article/3214955/alibaba-founder-jack-ma-returns-mainland-china-visit-school-hangzhou https://www.scmp.com/tech/big-tech/article/3214955/alibaba-f...