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(Axios)   Alibaba hit with a $2 billion antitrust claim ... by China   (axios.com) divider line
    More: Awkward, Space exploration, China, Holding company, Mongol Empire, Yuan Dynasty, NASA, e-commerce company Alibaba, Chinese government  
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402 clicks; posted to Business » on 10 Apr 2021 at 3:02 PM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-04-10 10:55:48 AM  
Meanwhile the US gov and Amazon : I see no problem there...
 
2021-04-10 2:33:53 PM  
If I recall, they've been targeting Jack Ma because he won't play along and give the Chinese intelligence agency all the user data. I imagine this is just the next step in their intimidation of him to give in
 
2021-04-10 3:22:53 PM  
Jack Ma seems to be getting a very thorough lesson in how China handles dissenting voices.
 
2021-04-10 3:58:15 PM  
From his speech:

Looking at what Jack said
On October 24 at the Bund Summit in Shanghai, Jack gave his now (in)famous speech. He commenced by saying he was torn about what he was about to say but felt that it was critical for financial development in China. For the next twenty minutes, he launched into a not so subtle attack of the Chinese government.

In the speech, Ma criticized "outdated supervision" of financial regulation for stifling innovation and said its global banking rules were like an "old people's club." He called for urgent change and said that Chinese banks had a "pawnshop mentality (that) is severe, and it also affects many entrepreneurs." Ma called the people who run the banks "old men" and inferred they were out of touch.

He went on to call out the government's interference in businesses and their potential growth, saying, "the game in the future is about innovation, not just regulatory skills." Ma concluded by stating that China does not have sufficient experts to make policies that align with development.


He has a new album coming out (3 months in the making).

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2021-04-10 4:51:43 PM  
I have a submitted link
'Alibaba and the Commie Thieves'
I expect it won't go green.
He who hesitates is lost.
 
2021-04-10 4:52:58 PM  
"Give me a bribe. " Thats what Xi said.
 
2021-04-10 5:01:47 PM  

Catlenfell: "Give me a bribe. " Thats what Xi said.


In the US, this would be immediately be reduced to $1.50 fine in appeals court.  I'd have to assume that Alibaba didn't get where it is without knowing the proper palms to grease to make this go away.
 
2021-04-10 5:11:56 PM  
That's going to clean out their petty cash drawer for sure.
 
2021-04-10 6:00:38 PM  

yet_another_wumpus: Catlenfell: "Give me a bribe. " Thats what Xi said.

In the US, this would be immediately be reduced to $1.50 fine in appeals court.  I'd have to assume that Alibaba didn't get where it is without knowing the proper palms to grease to make this go away.


This isn't about the company's failure to grease the correct palms, this is about punishing the company and its owner because he liked a thing which Party leadership does not like and/or disliked a thing which Party leadership likes. No amount of palm grease will ever be enough for the company to right that wrong; nothing short of the owner and his extended family and everyone who has ever gotten so much as the time of day from him being locked up in a gulag forever will be enough to appease the Party leadership for his transgressions.
 
2021-04-10 6:44:52 PM  
Forty thieves wanted for questioning.
 
2021-04-11 7:09:31 AM  

somedude210: If I recall, they've been targeting Jack Ma because he won't play along and give the Chinese intelligence agency all the user data. I imagine this is just the next step in their intimidation of him to give in


There was a good article on this in The Economist.  Basically Jack Ma was close to cornering the majority share of social media, e-commerce, and credit payments through Alibaba. They sent him to re-education camp and will break up the cartel.
Imagine Mark Zuckerberg buying Goldman Sachs, Amazon, and Visa.
 
2021-04-11 8:43:44 AM  
How in the heck does Alibaba even stay in business? Its website is worse than any Myspace  page and trying to buy a simple doo dad is nearly impossible.
 
2021-04-11 12:19:38 PM  
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2021-04-11 7:19:52 PM  

wrenchboy: How in the heck does Alibaba even stay in business? Its website is worse than any Myspace  page and trying to buy a simple doo dad is nearly impossible.


It's always been geared toward volume/quantity sales.
 
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