Jack Ma v PBoC, Who Will Win the Battle For China?

jack ma shanghai bund summit oct 2020

China’s visionary has met China’s central bank in a most public showdown that has the world shocked at the capricious, abrupt, unaccountable, last minute way of China’s authoritarian rule. Their star entrepreneur was slapped reportedly after giving what to us sounds like the greatest speech of this decade with Ant’s mega IPO derailed. “Today’s financial system is a product of the industrial age,” Ma said according to a rough translation in front of bureaucrats at the Shanghai Bund Summit last month, adding: “It is a comprehensive financial system set up to solve industrialization. It is the 28 theory. What is the 28 theory? Invest 20% to solve 80% of the problems. The future financial system is to solve the 82 theory and help 80% of small businesses and young people to drive 20% of the people. From the past’s ‘people looking for money’ and ‘business looking for money,’ to ‘money…

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