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by orwin 1 hour ago
Some of these were very good decisions imho, from someone who spent two months in Chineese rural area around ~2019.

- Tutoring platforms were a plague on Chineese youth that increased the weight of their already _very_ heavy load (tbh, i think and education reform might have been preferable, this is a stopgap, but at least it is something).

- Ant group was offering predatory consumption loans to rural China, which to me felt a lot like the "revolver credits" that plagued my country in the 80s and 90s and pushed to many to suicide (the surname cam from their english name, "revolving credit", and because my countryside had a lot of hunting rifle available to whomever). Considering how rural china is mistreaded by Chineese state and general government (and imho this is a real weakness in China politics), having this group by a huge fine for their practice and a general debt forgivness was great. Curtailing Ant's power is also good.

- Stopping consolidation is a great way to keep a market free.

- Crypto companies: mining diverted power from villages who couldn't compete on purchasing power to mining wharehouses in some state. The ban is great for the rural population at least. Also, if that can curtail the birth of Chineese cryptobros, great for the mental health of the country.