First published: TheArticle.com 11-11-20
Two weeks ago Jack Ma, the Chinese entrepreneur and founder of the e-commerce giant, Alibaba, addressed a big financial conference in Shanghai. Responding to his host’s tongue-in-cheek introduction, he said: “I’m not throwing any bombs” — but then proceeded to do just that. He gave the equivalent of both barrels to China’s risk-averse financial regulators, and labelled China’s state banks, on which his business depends, “pawnshops” for their lending to only those that could post significant collateral. A week later, the authorities pulled what was to be the world’s biggest initial public offering (IPO), of $37 billion of shares in his spun-off Ant Group in Shanghai and Hong Kong with 48 hours’ notice. Read on….https://www.thearticle.com/the-ant-saga-should-teach-western-investors-a-chinese-lesson
