Ma And Chinese Clampdown On Tech Firms
Ma is reported to have a personal discord with Chinese President Xi Jinping. In the October 2020 speech, Ma also attacked the President.
It is said that after that appearance, Ma was given a dressing down and was asked to keep low.
The probe into Alibaba is in line with the anti-monopoly draft rules for online platforms that China unveiled recently. The Anti-Monopoly Law aims to prevent anti-competitive practices in the internet space, including unfair price behavior, below-cost and tie-in sales, and unreasonable trading conditions.
Experts say that this law is expected to hit Chinese internet companies like Alibaba, Tencent, Pinduoduo, JD.com and Meituan.
The step towards Ma, may therefore, be a step towards reining in Chinese internet giants. The technology moguls in the country are increasingly being seen as a threat to the country’s “political and economic stability”, says an article by The Week.
China also does not allow any foreign social…