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Wasn't there also something about Alibaba specifically working on a money lending scheme which circumvented banking regulations and which regulators feared woul
by ptx 4y ago
Wasn't there also something about Alibaba specifically working on a money lending scheme which circumvented banking regulations and which regulators feared would create vast amounts of unsecured debt and destabilize the economy?
- PutinPoopin 4y agoThat happened in China tho without Alibaba?
- SilverBirch 4y agoYes, the original argument was essentially sparked because AliPay was doing a bunch of lending that wasn't really compliant with regulations and there was some discussion about whether the regulators would step in before the IPO. That's what caused Ma's speech about how the regulations were out of date. Whether that concerns was legitimate? Who knows.