Here Is Why Jack Ma Is Targeted By China

CA 9+ #China #Mayun #Alibaba Here Is Why Jack Ma Is Targeted By China 25,512 views •Dec 27, 2020 621 31 Share Save Difference Frames the World 2.94K subscribers #China #Mayun #Alibaba Jack Ma, China's most ebullient billionaire, and also the most influential opinion leader in Chinese cyberspace. His Chinese name is Ma Yun, and it was he that founded Alibaba Group, a Chinese E-commerce giant that defeated Amazon in China. On his B2C, business to client platforms, Tao Bao and T-Mall, people all over the world can literally buy anything they could think of. He had been a teacher for some time before he took initiative to build his online empire, and he regards himself as an intellectual. He has said many times in public that he does not like money, but he has been one of the richest people in China, even in the world, for many years. His Alipay can be found, almost everywhere in China, and has gained more and more overseas markets, in recent years. He himself does not own a bank, but his Ant Group acted as more like a bank than a real financial institution till last month, November 2020, when its IPO was suspended by China's regulators. Chinese young netizens call him "Daddy Ma", but he is not a sugar daddy for young girls, rather, he is the ideal image that illustrates China's quick rise, and his success encourages thousands of his followers to move forward. Everything changed overnight, and "Daddy Ma" became "Monster Ma" suddenly. even a lot of his fans turned against him, criticizing him for his endeavor to empty the young generation's pockets. Another fatal blow came unsurprisingly one month after the suspended IPO of His Ant Group. On the 24th day of December 2020, Beijing Time, China began its probe into Alibaba Group's monopolistic practices, such as forbidding the sellers on its tao bao platform to sell things on other online platforms like Jing Dong or Pin Duo Duo. This exclusive practice is referred to by those online vendors as "choose one from two". When the news came out, Alibaba's share price plunged by 10% within 24 hours, and the market value evaporated exceeded 700 billion RMB, an equivalent of a little more than 100 billion US dollars. there are too many things that urge China to go after him, and we list some of them below: first one is that he is too defiant. one day he was asked how the local government treated Alibaba, he told the public that Alibaba is so big a company that the local government does not know how to deal with it. second one is that he thinks he is strong enough to change the rules of industries controlled by the country. take the banking industry as an example, he challenged the banking industry in a public speech when attending a forum held in Shang Hai on October 23, 24 and 25 of this year, saying that there is no systemetric danger in China's banking industry, as it does not have a system at all. His good days ended when that speech came to light. just several days later, the IPO of his Ant Group was adjourned. third one is that he cut into boundaries that he should not reach. like his Ant Group is not a bank, but he positioned it as an innovation to reframe the banking industry, and for the two products it offers to millions of customers on internet, "Ant Credit Pay" and "Ant Cash Now" are like credit cards and cashmoney, which China does allow non-financial companies to provide customers with. Fourth one is that he is too high-profile, and looks more like a superstar than an entrepreneur. his success has already told Chinese there is a huge gap between the rich and the poor in China, his high-profile talkshows make ordinary people very uncomfortable. no one knows whether he can turn around this bad situation, but he has been away from the public for quite a long time, and this makes people even more suspicious. 207 Comments Auggie Giuseppe Add a public comment... ValExperimenter Pinned by Difference Frames the World ValExperimenter 1 week ago What is interesting is that Ant Financial's business model appears similar to Soft Bank's business model. Good to see the regulators in China are aware of where this type of business leads. 19 S C Y S C Y 1 week ago China has seen how Amazon gobbled up all small businesses, becoming a monopoly, denying many others to make and sustain their own livelihood. 68 Casol Casol 1 week ago never bite the hand that feeds you 40 Chris Chris Chris Chris 1 week ago What he is trying to do with ant group is to distroy the Chinese bank and the people, and he is not taking risk but the banks 37 HAU HAU 1 week ago Again a very concise and illuminating narrative about a real issue which has befuddled many like myself. Excellent. 👍 29 Subhas Chandra Boss Subhas Chandra Boss 1 week ago China is not "going after him". All that's happening is that, as in the west, China is concerned about monopoly power of a company. 36 a khun a khun 1 week ago Jack Ma forget he is sill living in a socialist country, he should deliver economic wealth to the society, he should pay respect to the government policy maker not to challenge them in the public event. He has gone too far crossing the government red line. In the socialist country, to be rich is good but must share to the others as a common community, monopoly strictly prohibited. 32 CM CM 1 week ago China wants to help make more people rich instead of a handful of super rich people! China sees the problem with the US wherein a small percentage controls the country and economy. 32 Gman Singh 无必问 Gman Singh 无必问 1 week ago Jack Ma is getting way over his head. 17 Thunder Thunder 1 week ago Jacky Ma's head has overgrown his body, including his brain inside. Nothing personal from the CPC - what Trumpee can't touch, the Chinese government act on Trumpee's behalf. If Jacky ma succeed in entering the US market, it would be even worst than a trade war! Amazon, Walmart would just disappear into "thin air"! 25 Val. T Val. T 1 week ago When a person's head getting bigger than their body afford to support it, the person will end up walking in erratic direction... 13 Torbjørn Melbye Torbjørn Melbye 1 week ago Good to see a channel who at least question and scratch the surface of this case. Western media's covering is just headlines made to make China look bad. 7 Ramon Ching Ramon Ching 1 week ago Regarding the Ant financial... The problem was Ant financial is acting as an indiscriminate lender without skin in to game. Just like the US banks in 2008. Reckless behavior need to be checked. 5 Richard Richard 1 week ago This is a good thing. Imagine if in 2002-2006 government exercised fiduciary on things like unethical lending practise or rating agency duopoly like Standard & Poor's and Moody's, it would have prevented the 2008 global financial crisis and saved $Trillions of people pensions and savings. Instead the Fed was part of the problem. 5 Nicolas James Nicolas James 1 week ago Cryptocurrency had become profitable and profitable way of making money. 19 Yong Jian Yi Yong Jian Yi 1 week ago China is not 'going' after Jack Ma, they want him to moderate his business practice (ant finance) and break-up some of his monopoly. 3