Billionaire Jack Ma Is Giving Up Control of Ant Group

[troubled soul]

Billionaire Jack Ma Is Giving Up Control of Ant Group

https://www.bloomberg.com/news/arti...share&utm_campaign=mobile_web_share#xj4y7vzkg

 

[Martin Everson]

Yup China did the right thing here thu&¤#.

You want to understand why? Watch the below video only from 57:48 to 58:38 mark. And listen very very carefully to just that one minute clip. China puts its billionaires in check unlike some other countries 😉.


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[void]

Martin Everson said:
Yup China did the right thing here thu&¤#.

You want to understand why? Watch the below video only from 57:48 to 58:38 mark. And listen very very carefully to just that one minute clip. China puts its billionaires in check unlike some other countries 😉.

Click to expand...

ok, and is there any conclusion? I mean in terms of what is better (smaller evil)?

 

[Martin Everson]

void said:
ok, and is there any conclusion? I mean in terms of what is better (smaller evil)?
Click to expand...

Less influence is better.

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[void]

Martin Everson said:
Less influence is better.
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no doubt about that - but less influence of corporations or less influence of government/politburo? I'm having hard times to decide

 

[Martin Everson]

void said:
no doubt about that - but less influence of corporations or less influence of government/politburo? I'm having hard times to decide
Click to expand...

Has to be some middle ground. But you can't end up with a country resembling a oligarchy like in U.S. Government has to be run for the interest of the majority not powerful and influential minority.


https://www.cambridge.org/core/jour...age-citizens/62327F513959D0A304D4893B382B992B

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[void]

Martin Everson said:
Government has to be run for the interest of the majority not powerful and influential minority.
Click to expand...

this might be worth a poll on this forum 😀

 

[Martin Everson]

void said:
this might be worth a poll on this forum 😀
Click to expand...

You mean a poll such as should government be run for the interests of the powerful and influential (like Jack Ma or Elon Musk) or majority interest?

I think the result should be obvious....but then again 😕

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[void]

Martin Everson said:
You mean a poll such as should government be run for the interests of the powerful and influential (like Jack Ma or Elon Musk) or majority interest?
Click to expand...

putting aside that government shouldn't exist at all (for the same reason you don't want your town to be governed by a gang) I meant a poll which of those options will be better in the end for an average citizen who gets fucked either way

 

[Martin Everson]

He overstepped the mark. They nipped that oligarchy attempt in the bud.

https://www.bbc.com/news/business-64192382
----- quote start

Ant Group runs Alipay, the main online payment system in China, which has eclipsed cash, cheques and credit cards.
.
.
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Some analysts saw it as an attempt by the Chinese government to humble a company that had become too powerful and a leader who had become too outspoken.

The regulatory intervention came after Mr Ma had told a financial conference that traditional banks had a "pawn-shop mentality".

He also lauded the merits of the digital banking system, and stressed that future lending decisions should be based on data, not collateral.

---- quote end

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.