 |
| Jack Ma Missing |
Krishna: We’re Back Here With A crazy Story.
China’s Most Famous Tech Tycoon seems To Have Disappeared. The Billionaire, Founder Of alibaba, Jack Ma, Has Not Mad any Public Appearances In More than Two Months Now After He made A Comment Alluding To The need To Reform China’s Financial system.
His Brainchild, The Financial groups Initial Public Offering has Been Called Off By Beijing.
Adam A Fox Business Contributor.
I Know You Interviewed Jack Ma A couple Times.
Your Thoughts On The Story?
>> Yes.
Well, It’s, One Of Those unfortunate Reminders That Doing business In China Is Different from Doing Business In Other places.
Even Somebody As Prominent As jack Ma Answers To The State At some Point And Especially If,like Him, You Become Very Big and Very Powerful.
Even Before This Strange And perhaps Really Unfortunate occurrence, Connell, We Don’tknow What It Is, There Were signs That His Wings Had Been clipped.
You Know A Few Years Ago He Sortof Almost, Sort Of Suddenly announced That He Was Going To step Down From His Job As Ceoand Chairman Of Alibaba.
And The Feeling, The Whispers then Were That He Had Become Too powerful In Xi Xinping’s China.
Krishna: That’s The Key,xi Xinping’s China.
Overs Last Number Of Years, 30,40 Years, Individuals Through the System China Has Have Become extremely Wealthy.
Jack Ma Is Best Known Of Them.
There Are Other Examples.
The Question Now Is Whether That can Continue.
As You Say We Don’t Know What happened To Jack Ma, But Just broadly Speaking, Can Someone who Becomes Again,extraordinarily Wealthy essentially By Taking Advantage of Global Capitalism Succeed Or exist In Xi Xinping’s China going Forward?
>> You Know, It Is Roughly analogous To What Has Happened in Vladmir Putin’s Russia.
There Were All These Billionaire oligarchs Who Were Allowed Tomake Their Money And To Become fabulously Powerful So Long Asthey Always Understood Who The real Power Was And I Think Thatwasn’t The Case In China Beforexi Xinping, During The Previous30 Some Years Of The Miraculousrise Of The Capitalist, Marketdriven Economy In China.
If You Want To Analgize It Toputin’s Russia, You Can Be A billionaire, You Can Make A Lotof Money.
You Can Have Villas Around The world But You Can’t Ever challenge Not Just Xi Xinping but The Communist Party Or The state.
There Were Signs Jack Ma Had done This, Now We’re Seeing Whatwe’re Seeing.
Krishna: There Is One Big difference Between China Andrush That, Well There Are A Lotof Big Differences In Terms Of economics, There Are Not Many american Businesses That Make Alot Of Money Relatively Speakingin Russia.
There Are Too Much American businesses And Business People who Make A Lot Of Money In china.
Does All Of This Have Any implications Do You Think For those People, Tim Cooks Of The world?
>> I Think You’re Asking, You’reasking Exactly The Right question.
There Is A Narrow Way And broadway To Look At This.
The Narrow Way Would Be This Is about Jack Ma And Alibaba Andthat’s It.
We Haven’t Seen Similar Bold moves Against Some Of The Other movest Internet, Chinese Internet companies.
Broadway Of Looking At It, Thisis Just The Beginning.
It’s A Reminder To Western businesses That You Can Play In china But You Better, Two things, You Better Be Darn Sure you Know What The Rules Are, Bythe Way, The Rules Might Changevonce You’re Sure You Knew Whatt he Rules Were.
I Think It Is Important To China you Know Western Businesses continue To Operate There But Itis Even More Important To The communist Party That They operate There Under Their Rules.
Krishna: Yeah.
Wanted To Talk About It In A broader Context And I’m Glad You did, Adam.
We Don’t Know If Any thing happened Or Anything Happened To jackma.
This Illustrates Another important Story.
Comments