The Chinese Government has caused a stir by making changes within its own tech industry, leaving experts to question its motives, writes Paul Budde.
IT WAS ON THE CARDS. For weeks, Jack Ma, the digital tycoon of China, founder of Ant and of e-commerce giant Alibaba (the Chinese Amazon), disappeared off the radar after he was summoned by the Chinese Government and most likely lectured on the fact that his company was out of step with official Chinese policy.
Consequently, the Government levied a multi-billion dollar antitrust fine against Alibaba, deleted its popular web browser from app stores and took several other actions against the company. As a result, the value of Jack Ma’s business empire collapsed.
Of course, we did not know what exactly happened. This has now become a bit clearer with the following steps undertaken by the Chinese Government.
The Chinese Government has now also effectively cancelled the upcoming listing of Ant Group Ltd. …