After about seven years of Xi's purges, chance of WSJ having access to the kind of people who would actually have access to Xi himself and who would be willing to talk about it is between zero and "are you fucking retarded?" Because not only did everyone who had that kind of access and was willing to talk to Western media behind closed doors get deleted from existence in televised executions for "corruption", but Ant's actual problem was that it challenged the de facto monopoly of four state owned banks.
What's happened here is that Jack Ma has reached the ceiling in China. Basically, if you control too much then you could influence the government when the design is supposed to be that the government is supposed to control businesses. As such, allowing Jack Ma to acquire any more power would enable him to challenge government control and thus had to be stopped in order for the CCP to retain it's authoritarian control.
The problem of Ant is that their business is about lending substantial amount of money to people based mostly on credit history, as curated by its own credit agency, with no collateral. Lehman Brothers have taught us how well that kind of practice work out and how the US government stepped in to regulate them [wikipedia.org]. The new regulations [reuters.com], which are open for public feedback until Dec. 2, set a new requirement for small online lenders to provide at least 30% of any loan they fund jointly with banks. Apparently, when
The word Fascism has now no meaning except in so far as it signifies âsomething not desirableâ(TM). The words democracy, socialism, freedom, patriotic, realistic, justice have each of them several different meanings which cannot be reconciled with one another. In the case of a word like democracy, not only is there no agreed definition, but the attempt to make one is resisted from all sides. It is almost universally felt that when we call a country democratic we are praising it: consequently the d
After about seven years of Xi's purges, chance of WSJ having access to the kind of people who would actually have access to Xi himself and who would be willing to talk about it is between zero and "are you fucking retarded?" Because not only did everyone who had that kind of access and was willing to talk to Western media behind closed doors get deleted from existence in televised executions for "corruption", but Ant's actual problem was that it challenged the de facto monopoly of four state owned banks.
And
What's happened here is that Jack Ma has reached the ceiling in China. Basically, if you control too much then you could influence the government when the design is supposed to be that the government is supposed to control businesses. As such, allowing Jack Ma to acquire any more power would enable him to challenge government control and thus had to be stopped in order for the CCP to retain it's authoritarian control.
The problem of Ant is that their business is about lending substantial amount of money to people based mostly on credit history, as curated by its own credit agency, with no collateral. Lehman Brothers have taught us how well that kind of practice work out and how the US government stepped in to regulate them [wikipedia.org]. The new regulations [reuters.com], which are open for public feedback until Dec. 2, set a new requirement for small online lenders to provide at least 30% of any loan they fund jointly with banks. Apparently, when