After Jack Ma, China’s former richest man, was interviewed by regulators late last year and Ant Group suspended its listing, rumors persisted that Lakeside University, considered by Ma to be a 100-year plan, had been discontinued. Recently, a video of a stone monument at the entrance of Lakeside University being eradicated has been circulating on the Internet. Some analysts believe that Ma, originally a favorite of the Communist Party, has been reduced from a guest of honor to a prisoner because he offended the authorities, who are furious and beaten the dog. But the Communist Party is forcing him to hand over consumer data, and Ma is caught in a dilemma.
In an interview with Voice of Hope, Professor Xie Tian of the Aiken School of Business at the University of South Carolina said that Ma has a very close relationship with both the current and former leaders of the Chinese Communist Party, in a word, with the Chinese Communist Party. When Alibaba first started, the CCP was involved in the founding of many of these Chinese Internet companies through state investment agencies like the SASAC, and gave them a kind of monopoly status.
When China had Alibaba, it excluded the U.S. Amazon, and when China had Baidu, it excluded the U.S. Google, which means that it actually allowed these Chinese private companies and Internet companies to use, that is, directly, or copy, or use, or imitate some of the advanced Internet technology in the United States, and then develop in China. Then they developed in China. After the development, these companies are actually more or less, like Ma Yun, directly by the State-owned Assets Supervision and Administration Commission, and others are actually more or less with the Communist Party of China that the powerful, there must be the transfer of interests, otherwise, they simply can not exist today.
Xie Tian said that Ma and his Alibaba, Ant Financial Services, Alipay, and Lakeside University are all being sidelined and suppressed by the Chinese Communist Party because it has begun a comprehensive purge of private enterprises and private capital, suppressing the space for private enterprises and further penetrating all levels of Chinese society. In other words, there will be no more private educational institutions in China, they will all be controlled by the Communist Party.
When he started this Ant Financial Services, he actually touched the interests of the Chinese banking industry and state-owned banks, and when he started those online payments and online lending, he also directly infringed on the interests of those vested interests of the Communist Party. In addition, he may also be more active, very active, very high-profile, at home and abroad, that is to say, casting a wide net, making friends, and world leaders are coming and going, that is, this is actually for the Chinese Communist Party, a taboo.
According to Xie Tian, Ma dared to directly criticize the CCP’s banking and insurance regulators, which means that he criticized the CCP’s policies and was not tolerated by the CCP and was purged.
The company’s listing has been delayed, and many of its institutions may be nationalized, including Alipay. The company is now basically a, so to speak, a prisoner.
On the net rumors that the Chinese Communist Party coveted Ma Yun’s consumer data, Xie Tian said, China’s consumer credit was basically blank before, state-owned banks basically did not open up consumer credit business, the Chinese people do not even have a real credit card. Most of those so-called credit cards that Chinese people use are, by Western standards, just a debit card, not a real credit card. The CCP also has no such history of individual consumer spending, purchases, and other such credit, but Jack Ma’s Alibaba, Taobao, Alipay, Balance, Debit, and Flower, have accumulated at least two-thirds of Chinese consumers’ spending, payment, and credit data, which the CCP now needs badly to engage in universal surveillance and social credit scoring. However, Ma does not seem to have transferred this part to the CCP. But Ma is not choosing to offend the CCP in order to defend the rights of consumers, he has no choice but to do so.
[Recording]: I don’t think he has the drive or the guts or the moral courage to do that, he’s not. I think his concern is very simple. Because he these, a lot of Alibaba these companies are registered overseas, maybe let’s say in the kind of Caribbean islands, the Cayman Islands, registered in these overseas, these companies in China, their main business in China, if he reveals these consumer information to the Chinese Communist Party, to the Chinese Communist Party, that is to say he these, because he has a lot of consumers well, it is easy for him to be overseas it, it was And it is very easy to win this prosecution, then he will, for example, to lose all of his assets overseas, may not be enough. So I think he is actually afraid to give the data to the Chinese Communist Party because of the protection of consumer privacy overseas, and the Chinese Communist Party has been pushing him and forcing him to hand over the data, and now he seems to be in a deadlock. Because of this stalemate, the Chinese Communist Party is so enraged that it has put him, and now basically beat him to death.
Xie Tian predicts that Ma is basically finished. Although Ma is actually cooperating with the CCP, and the CCP has helped him grow and maintain his monopoly, and Ma has channeled a lot of benefits to the CCP powerbrokers, Ma has, after all, overseas registered companies and overseas assets, and Ma has to be responsible for these normal countries and normal legal procedures, and he is bound to have concerns about consumer protection. So he, Ma Yun, is actually in a dilemma, there is nothing to do.
If he could give up some of his stuff early and run away, with his overseas assets, he could easily live his life, but he could also be wanted by the Chinese Communist Party. So now, I think he’s basically just not going to be let out by the CCP. I guess, it may not be easy to sentence him, it may not be easy to find any excuse. Basically, after depriving him of all his assets, he will become an ordinary old man in China, or he will be under house arrest for the rest of his life, I’m afraid.
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