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by analyst74
2048 days ago
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> The real question people are asking is why now? That is a very good question, from public information I can gather around Ant and Ma's career in general, it seems he has strong backings from a wide range of powerful people due to financial relations as well as his reputation -- he is the Elon Musk of China and commands tremendous respect and pride among not just citizens but also top leadership. In fact, his backing is so strong that China's banking and financial regulators have not been successful at regulating Ant despite other fintech pioneers' blatant failings. However, this time he miscalculated how far he can push and the more conservative voices in the party have finally gained an upper hand. |
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No one was surprised by his laughable showing in the chat with Elon at WAI 2019 where he behaves like a fraud.
His backing from powerful hidden political figures are well acknowledged. Although that's not new, anyone who commands such power are backed that way, this pattern can trace back to Qin and Han dynasty.