China launches anti-monopoly probe into Jack Ma’s Alibaba Group
China’s regulators launched an anti-monopoly probe of e-commerce giant Alibaba Group. This is seen as a part of the regime’s efforts to control the country’s tech industry. The regulator said it was probing into Alibaba’s ’choose one of two’ policy, which requires partners to avoid dealing with its competitors. Alibaba founder Jack Ma is China’s richest businessman with net worth of $59 billion.
The irony is thick with this story... a communist government probing a company that the government is embedded in for anti-competition. It seems that Xi or some other leader didn't get their boots kissed fast enough.
For people who's got no idea why this is happening, Jack Ma a few weeks ago before the launch of his financial services, openly criticized in a public forum the Chinese financial system, which triggered a whole bunch of reaction including his financial service's launch being postponed and investigated right away, this investigation into alibaba is just added pressure to put him in his place.
As much as I hate china, and as much as this is all about just money to the CCP, it's disheartening to see they are doing more about monopolies then America or any other country are doing.
Turning the tables is a good trick to use. Especially when cornered. No pain, no gain
One monopoly vs another.
China investigates self for anti trust. Lol. Unless Jack Ma has become bigger than the CCP likes. Too much freedom for Jack?
Since when has China cared about monopolies
Atwnt their stories supposed to be only for their own news !? Why are we even caring !?
Another one of their copy n paste moves
Sorta like if our government investigated itself for overspending. Nothing will happen. Just a waste of time
Translation - Ma's not paying the government a big enough cut of the profits.