Bitcoin Forum

We have know that China has many times expressed and effectively carried out all shorts of moves against bitcoin, but recently they have made very serious moves that not only send a message for the future but also had very real implications for stock owners.

- Serious warnings to Ali Baba owner.
- A "voluntary" donation from Tencent to the "common good of Chinese people".
- A clear warning against any entrepreneur that has "too much public success".

Could this be dampening or even killing the expected growth of the Chinese economy? Are they, after all, still communist enough?

Communists in china are simply following the same gameplan communists have always followed over the last century. The issue has always been the general public being too afraid to educate themselves, or follow the news closely enough to know what the gameplan is. Many believe they're better off not knowing, which makes it impossible for them to learn or know anything.

I think most know the state in china has always owned and controlled everything in the country. Pretenses of "embracing capitalism" have always remained a thin veneer and pandering to those who do not know better. Capitalist CEOs in china like Jack Ma have always been forced to step down. To be replaced by communist party loyalists. Often with disastrous results as the replacements were inadequate to the task set before them. There is a question of whether failure in chinese industry are attributable to incompetence or malice.


AFAIK communism has always avoided giving credit to inventors like Mikhail Kalashnikov (inventor of the AK-47). They've typically followed the same patterns of allowing no heros or credit to be given to any aside from the ruling government/party. The government is the only party that is allowed to receive credit for success.

Well it would not kill the growth suddenly for sure but you have to understand for a fact that the Chinese government is too strict with the people, to the point where they work like robots and then at the end of the day they are going to bring down the innovation and ideas to *Zero*.

-The whole point of growth of a nation is people effectively working on their ideas and skills and using it to make their country stronger in every sector, but when freedom of thought is taken away what are they gonna be left with ?

I do think that this could work, since they are controlling them like robots but there will be a stopping point where are the end they would have a lot of probelms and at the same time the government would reach a dead end, the community with starve mentally for sure.

Learning, Innovation, Ideas, they all are a big part of the country and if this does not go well then I do think their economy will have a highest point and reach the dead end.

They're not killing the economy, it's a matter of keeping this companies under their heels so their influence won't be a problem for the party, I guess you could say that what they're doing with this companies is a matter of politics rather than economics.

It can hardly be said that the Chinese authorities suppress innovation in their country. Quite the opposite: in China, useful innovations are tracked quite clearly and immediately implements them into practical life. Thanks to this, their economies are developing very quickly. We can see this in the example of the fact that the largest number of patents for inventions using blockchain have been issued there. Yes, they do not really welcome the spread of cryptocurrency and are now taking tougher measures against it before the release of their digitized yuan, so that it is more comfortable to spread in the country. Well, China has always chosen its own way of developing its economy.

I think the Chinese government has no problem with the big companies making a lot of money, but the Chinese Communist Party (CCP) just fired a shot over the head of Alibaba to remind them that they are still a Socialist system and they have to share some of their wealth.  ;)

The bigger picture is this... Make a lot of Money, so that you can share a lot more to the socialist system. (Donations / Charity / Bribes etc... etc.)  ;D   ( efficiency, equity, economic freedom, full employment, economic growth, security, and stability )  ::)

Hi my friend, I can see you are working very hard. Do you have openings in your troll farm? I would be interesting in a role as Senior Nationalist Head of Empty-heads.

Nobody is saying that China is not growing or that China is not a developed country - well, I am actually going to say that is half-developed, since only the coastal regions do well - what I am saying is that China is clamping obviously in one of the main factors of growth for any nation: individual initiative and innovation. On top of that, by directly requesting "donations" from listed companies they have stolen from the shareholders, which casts grim shadows about raising money in the future.

BTW, if you want to defend China you better start having some arguments. People on this forum are particularly tired of misinformation, fundamentalists of all shorts and manipulation. You need to do wayyyy better.


15 Billion from a listed company does not look like shooting over the head, does it? The problem is that a listed company does not belong to the CCP, but to the shareholders and something like this is plain robbery. This does have consequences on the future ability of Chinese companies to raise capital and that is directly linked to their ability to grow in the future.

https://www.bloomberg.com/news/articles/2021-08-19/tencent-doubles-social-aid-to-15-billion-as-scrutiny-grows (https://www.bloomberg.com/news/articles/2021-08-19/tencent-doubles-social-aid-to-15-billion-as-scrutiny-grows)

In my opinion, this is actually more of a party problem, which will definitely be a problem if this company gets ahead and is more advanced than their party.
so that before the company does anything further they will of course reduce it so that it will not become a very big problem in their party.
this is more about political matters than the economy, although indeed in the economic sector there will be an impact, but politics is much thicker here.

This is nothing new. They have been cracking down on different forms of innovation for sometime now and I don't think this will change at any point in the future. Political power matters more than innovation in their country.

You forgot to mention the fact that they are trying to change the heavenly status of some celebrities too. These moves have both good and bad consequences.

They don't crack down on innovation per se, they're cracking on stuff that threatens their political party, if they were cracking down on innovations then we won't probably see a lot of mega cities in China being built. And they wouldn't have the Three Gorges Dam if they're cracking down on innovation, they crack down on those that criticize them, that's why some billionaires have to be careful with what they're saying because they risk being captured and secretly neutralized.

What many in the Western world often do not know is that there used to be many political currents in the Chinese Communist Party (10-20 years back). One of the stronger currents was the rather "economic liberal" one, as far as one can say that about communists. The current was instrumental in China adopting many elements of capitalism in the late 1990s, which contributed to this enormous prospering development of the Chinese economy. But, in recent years, and especially with the election of Xi Jinping, another current has taken power, namely the old communist one, to which Jinping also belongs. Therefore, he has also had himself appointed as chairman for life, which would have been unthinkable just a few years ago, and it can be seen that this current is taking back more and more elements of the capitalist elements adopted in the late 1990s. How far these will go is difficult to say, but one sees now clearly what was already years in planning.

Nah, it's just about showing who's the real boss there. It's just about getting everybody - no matter how rich and successful - back in line.
I'm a bit worried though for Jack Ma's... general health... It's not the first warning he gets and they've shown in the past that they're pretty much serious.

This is very bad news for all of us. They are trying to crack after someday why they are doing this I am not clear but I think they are trying to make a game hare all of the ordinary investors losing their fund for poor knowledge. So we have to becareful.

They are not really that communist, for them allowing private businesses to operate and have that much success is clearly a sign of not wanting to go the path of a planned economy. Exercising control on the market is not really a communist thing, it happens to certain degrees in all economies, being them open free market or more controlled ones.

As for innovation, they are again not really hindering it, rather than telling you what pie you are allowed to bake  (https://www.bbc.com/news/newsbeat-39302506) they are asking for a bigger share of it and ask you not to boost your success all over. So, trying to find a compromise as they have already done for 3 decades now, so I'm not surprised at all nor do I think we will see any major impact. One more thing, all those companies that are right now "forced' to denote things have done so well because they were helped by the CCP, if they were left alone on themselves you wouldn't have heard of them by now.

Also, it's not that China does all this control things alone, people focus on them because they are still led by a  communist party but in reality, a lot of the Asian countries have gone through this model, most ignore the fact that nearly the same model of "guided capitalism" led to South Korea success stories, the Chaebol mode (https://en.wikipedia.org/wiki/Chaebol)l.

I disagree. They do crackdown on innovations because some of the stuff that threaten their party as you mentioned are innovations themselves. Below article basically proves my point.

https://www.google.com/amp/s/www.pymnts.com/news/international/2021/china-big-tech-crackdown-chill-innovation/amp/

However, I do agree with your opinion about Billionaires becoming targets in recent times. The political powers don't want the billionaires to gain more power due to which they are trying to suppress them in this manner.

Yeah, I can see where I did get it wrong. A lot of progressive/innovative thinking is suppressed like what happened during the Tianamen Square Massacre. There's a video essay about this one about the disappearance of Jack Ma and other Chinese billionaires right after their deemed to be offensive by the government speeches or statements, I just forgot the name of the channel and the title of the video essay in YouTube.

Maybe they are doing that because of the cheapest way to buy so much more than the actual price, and it's not bad for them. Maybe specific groups of people have planned it and are manipulating it to get the best price.

I think the reason why the Chinese have so much influence is because of how many they are. Think about it, almost everyone knows someone who is Chinese, and if they see that person be an influencer or something, they would follow their decision and dump BTC if that's the case here.

Maybe they are so used to it already that they have managed all these years, and it didn't affect their economy with that.

Ever since those news came, they're already like that. Censorship, being strict with the people so being strict with successful businesses and as well as emerging technologies.

As they crack and stop those mining operations in some provinces, I think that they're still into it but only minimizing the mining farms that operates. It's just hard to look at what they're up to and which type of common business and technology they're not going to touch but I think almost everything, they're into it.

This brings in the much needed moderation on such a thread. The Chinese have been able to expertly channel a lot of manpower and public energy towards the target of upliftment and national pride. A lot of it has been driven by ultra-nationalism and carefully crafted messages through public outlets, while blocking most of what the rest of the world takes as free access to information.

It looks like a very patriachal, disciplined sort of system where people are doing things and living their lives a certain way, not because they love it, but because the party says that its best for them and for the people. For example, making billionaire organization trim down by donating or committing to social welfare will affect all of those who have worked hard to reach at that level. Whether they will continue to love doing this cannot be predicted. Would another "Jack Ma" work his ass off to raise a corporation like Alibaba? This is basically forced philanthrophy. I don't think that money is what matters here. It is about the perception that no private entity should become too big. The West has had this argument with the negative feelings about corporations that become "too big to fail" and are regularly bailed out.

So, we can never know what the stakeholders and owners in those corporations actually feel, but this isn't something completely radical.

They're definitely cracking down but much more subtle so we don't know it or we second guess what they're doing. What they're doing is to care for their interests, we may see it as selfish but they think ahead with those crackdowns and they want to keep the party alive as much as possible.

Thank you, I can see that you at least can have a honest discussion about China´s governance. It is mostly the same in democratic countries in the sense that parties have groups inside that have quite different views, for example the Republican Party in US has the "Tea Party" and recently has become pretty much taken over by Trump´s MAGA.

You hit the point I am taking opinions on: Does this "old communist" school of thought understand that growth is much more difficult without personal initiatives? I get that they want to suppress any influence other than the party and its leader, but that is going to come at the cost of keep millions in poverty and preventing foreign investment at large.

That lack of growth may actually be de-stabilising force. People are happy abut cheering a party when there is prosperity, no so much when things start to crumble.

If you only see from the outside it will look beautiful, but the fact is that the Chinese people are not as prosperous as many people say. even now many of them cannot survive in China and choose to seek work abroad.

Are those three things you listed what the country is trying to do currently? What was the 'Baba owner warned about?
In regards to the third one, wonder what they mean by "public success"... Well, as long the success is not taken away from those who achieve it..

Donations should ofcourse be voluntary, or do you think there is an agenda behind the second? Maybe it has hidden terms?

That's because the political party in that country is so obsessed and controlling that anything that might remotely offend them, they immediately go berserk over those supposed offenders.

I think the crackdown taken by the Chinese government with Alibaba is a form of the existence of a regulator on an object that should comply with policy but because it has become a very large multinational company and dominates the Chinese economy, it makes the owner a little arrogant.  Jack Ma's arrogance by offending financial regulators in China made the government even more annoyed.  Their particular case is in a communist country where they have to comply with all existing policies even if they are not in accordance with the company, this is the weakness of the communist socialist economic system.

I think this is the problem with communism because it raises few individuals that will benefit from the political system and they grow by feeding fat from the system. But on another wing when the few individual try to go against or independent of the system, they get cracked down.

I think this will only have an impact on the economies that are connected to Ali Baba, including some countries with quite large connections and more significantly on foreign investors who have assets in them. But on the other hand, I think China is too excessive and always makes the large-income sector an easy target to improve the capitalist economy which has been its ambition so far.

It looks like the Chinese leadership is getting scared. They want to reassert full control over people's lives before any potential negative economic future that is coming. Instead of accepting boom and bust, they cannot be seen to "lose face" by having a bad year, even though that is natural. We see they are also cracking down on celebrity culture of all kind and gaming is receiving a lot of attention too - all things that can create social connections which might go against the government. It actually shows how shallow and weak they are, but these sort of steps tend to backfire as we have seen incompetent officials trying to deny reality before.

In China, everything must comply with government laws and regulations. This is the basic principle. There is no right or wrong. If you are not a public figure, you are still very free to speak. Freedom does not mean spreading rumors.

China is an authoritarian state, and as such it's focused on staying in control. For this purpose, any innovation is potentially negative because any change is a risk that their power and control will be undermined. It's also worth noting that when it comes to economic innovations, China has no incentive for it because it's already the world's second-largest economy, it already performed an economic miracle, and it's predicted to become world's #1 economy in 10 years. As for being communist, they're ideologically communist but economically rather capitalist.

Pick 10 random directors from multinational companies, one from each country and you will see they come up with a different picture of what personal success is. Do the same with 10 from the same country around the same age and again you will see something different.

Very important at this point is not to look at the picture from your own perspective, for a European or American this might be hard to understand but at the same time is ignoring history, all major developments until the middle of the industrial revolution were done with people getting paid a fixed amount for their work, the whole Age of Discovery was sponsored by rich houses and merchants without the actual leader of the expeditions receiving anything else from the enterprises that were built on their discoveries, same for the all the Renaissance.
Would this move prevent the creation of another giant company? Maybe! Will it prevent poor people to try and succeed in life and at least reach the middle to high-income class, absolutely not!


This is going to be an endless dilemma for every government.
Large corporations are efficient, you can't compare the results of a billion factory with the results of a garage shop, so at one point the population gets cheaper products for a period, increasing the purchasing power but at the same time when things go bad a lot of those savings are used to save the company itself.  Tricky and as I said neverending story.


I think you're overestimating the desire for more freedom when it comes to personal actions with the desire to overthrow a government.
Anyone who believes in a few restrictions on what you're allowed to wear and promote in tv shows or online and stricter social rules would lead to any sort of revolt is deeply mistaken. A lot of Chinese are calculated people probably more than us Europeans, they know a sudden change would prove devastating to the economy, and they will most likely choose to play one hour less of games rather than face the instant consequences of a regime change.

One can understand individual measures of the government. For example, to allow young people playing video games for only 3 hours a week. China has a massive problem with gaming addiction among young people. The same applies to the ban on particular private learning providers. Many parents can not offer their children to attend such expensive courses and therefore there is an imbalance in terms of educational opportunities. You can see in the US what happens if you do not stop such developments early.

Other measures, however, are complete nonsense and rather ideological.

Not the first time they interfere companies that accumulates power. Chinese government will make sure the owner will not end up being powerful like Bezos that can lobby and sue the government using his wealth while not paying tax.

They believe its fair, I don't think these companies will ever have success too if it werent for their people. The culture play a role for giving back whats earned but the government will also make sure they are not going to kill the company.  The government will also make sure there will be no Union within these companies.

Alibaba is part of a big group of companies by Jack Ma. This is a very big company responsible for distributing lots of products world wide. So is the tech company Tencent

As far as I know they are a community which has good solidarity I think the government want the wealth spread more evenly among Chinese people although sometimes I think they do many excessive move. They control and push ( in positive way ) their citizens to run their business. But that moves make me confused, is the government afraid if there is someone that has very big power outside government institutions?. Well the government know the best about their country.

It is not the point that big corporations should not exist, capitalism is a working product that we have which gives results. However the fact that some people (investors and owners) make trillions combined while people are poor, and that is the part we should be fixing. Nobody says that we should move to communism, communism is when the government owns things and that is not correct and that should never happen. What should happen is a regulated economy, why do we have zero kids working at age 12, working 12 hours a day in factories anymore? Because, workers took their rights and gave children their freedom.

If you asked a liberal, they would say that if a kid is poor, and their family is poor, then that kid start working early would be beneficial to him. Or why don't we work 10 hours a day for 7 days? Because workers took their rights. I just want the same thing, instead of apple making 10+ billion in profit, they should make 5 and rest should go to workers. Is that too much to ask?

It seems to me that they feel threaten if outside technology is starting to become popular among its citizens. They can't have the full control in case they will accept it. Just like facebook and other social media platforms, they are banned in China. But they have their own wechat. So they don't want outside tech to proliferate in their own country. They will create their own as much as possible, and I believe they can, with about 1.4B population, they can always create what they want and let its citizens use it.

The Chinese system of government has always been the communist type for years. They set up a government that likes to control their people and then countries like this user not really giving 100% freedom to do however they like. Compare this to USA you’ll see that they see a lot of difference, it’s not like in the US where people are free to express themselves to the fullest and cell whatever they want to say.

Take for example the Alibaba owner that you have pointed out, you can read the story and everything that happened to him and how it all ended. So their government has been against cryptocurrency for a long time because it was giving their citizens that freedom which they did not like.

But in reality, an authoritarian government is only seen as a government that prohibits the freedom of each individual to stand on what he chooses. including the economy itself. China with a system that makes the interests of the state as its main strength needs to prioritize whatever the Chinese government wants to achieve and override the rights of the people who want to live in individual freedom. Even legitimate beliefs make them accept consequences that are unacceptable to all countries. We admit that China's economy is growing very fast, but covering up freedom is not a good policy. The more you press, the bigger the trigger.

Sooner or later this is going to come back to bite them, that is just the way things are and I think the main reason why the growth of China will begin to slowdown are the horrible demographics caused by their one child policy.

The truth is that a government that tries to crush the liberties of their people will show signs of failure, China looks strong now but as innovation get punished then where are they going to get those technological advancements? After all even corporation spying has its limits and they cannot rely on just getting those advancements in that way as businesses will eventually find a way to protect their commercial secrets.

The Chinese government has always chosen its own individual path of economic development and it cannot be said that they did not succeed in this. As for the introduction of innovations, I believe that on the contrary, the Chinese government takes them quite seriously. This can even be shown in relation to blockchain technology. Evaluating its novelty and prospects, even the leadership of the Communist Party called on to more intensively introduce it into practice. So far, China is among the leading in terms of the number of patents granted for inventions using blockchain technology.
Decentralized cryptocurrency is simply not in the purview of the Chinese government. Moreover, they see it as a threat to their financial security.

I personally can't say anything about what is happening in Chinese society because I never know and there is rarely news about its citizens because it is possible that something is being covered up by the country because I rarely hear news about complaints or anything else. communicate with the public about the country.
but if you look more seriously what you say will be very true because there is no way they are not pressured by all forms of regulations that exist in china and recently there have been quite a few funny things that citizens have done to show workers' protest by doing tang ping which is a form of anxiety for their citizens

I would say that Chinese government allows basically dictatorial ways to handle their economics. Normally I am not the one for suggesting liberal policies but the reality is that instead of a dictatorial way I would say that it would be a lot better to let people be however they are. Is European way of socialism better?

It is way better, add in justice and democracy in there and we got ourselves a great nation. Not really that difficult to imagine since we have 10+ of them in just Europe. However reality is that China grew on the backs of their huge population and did cheap knock-off horrible brands for very cheap nearly starving (and sometimes directly starving) wages for its people and they got richer that way.

There is a huge gap between a dictatorial way of economics and the liberal way (or in other words turbo-capitalism). So there are indeed many ways between to create a economical policy that fits both, the companies as well as the employers. Europe had such a balanced system until the introduction of the Euro. But with the introduction of the Euro, it is moving more and more toward a centrally controlled economic policy that will sooner or later lead to ruin. So that's not a good model either. At most the time before the euro.

Their social media is highly censored and even searches are strictly monitored. This is why you can see a popular actress wiped out in their history. Good example is Zhao Wei, a popular actress that has been wiped out from their country's internet search. Now, it is no surprise if they will hold off some new innovations and not permit it to enter their regime. So do you really want to live in a country with topnotch economic power but your life is quite different from other normal people outside your region?

From what history tells us, you can always expect China to bluff and lie with their words and actions. In my eyes, China will spread misinformation if it serves their purpose and China will never miss an opportunity to make a profit, no matter how immoral or self destructive it may be. Communism is just a lie for the chinese ruling elite to stay at the top.  Xi Jinping accuses all of his political enemies of unproven corruption so he can stay on the top. If we let them influence us then they will treat us the same way as they do their own people. Forced organ harvesting(of innocent people who are put to death on fake charges), concentration camps and of course, they will force you to sign your business over to them. This is the price of cheap outsourced labor - Slavery.  

Bitcoin is something that could save the chinese people from this because the chinese government would no longer have control over their people's wealth. I think this is one of the biggest reasons why China has created the "great firewall". They know the outside internet is a danger to their system of domination. Their government will crumble sooner or later by the hands of their own people.

China is basically a rich North Korea.

@Xinarae, I think you don't understand what the Chinese people are experiencing through the crackdown, ban, and restriction done by their government which is what makes most of them to seek alternatives outside their country.

@bekti3, it the communist level of the Chinese government which also restricted their citizens use of the internet that makes it hard to hear or read news of things happening within the Chinese soil.

I am as well not sure why they are fond of doing that. Maybe their communist party is afraid of people getting too much successful, because they feel that those people might one day reach the level that they won’t be able to stop them anymore, and as a result, it would lead to their downfall. So they are trying as much as possible to quench every fire. They don’t want to give their citizens too much of freedom so that nobody would be able to speak up against their rule.

Anyways, I think the people are just okay with living that way, because if not, then I believe they would have started speaking up and protesting for their rights. Although, I can’t really tell, it might be that people are just scared for their life, so they don’t want to speak up and have decided to stay mute. You might speak and there would be nobody to back you up, and you would just be on your own and suffer the consequences. We have seen how they always silenced those that tried to speak up against them.

That's what communism is. A monopoly and control in everything in their country. Just look at Jack Ma who's one of the richest there. He can't be reach now and no one knows exactly where he is only after he talks how China's economic structure were outdated. In my opinion however, communism is quite good but in just a certain degree of tolerance. Not like this where everyone who talks bad about them should be punished and worse gone immediately.

worse than that I've read that they implement a social credit system there which reflects their dictatorship.
and the famous ones affected by this system are Xu Xiadong or Mad Dog who really wanted to reveal something that was there but he immediately received criticism from all parties including the government which made it very difficult for him to go anywhere and even now reportedly he is no longer there. its existence is clear.

when you are there everything is possible for the government because it will be very difficult for ordinary people to be able to oppose.
the worst thing is that we can disappear if we don't obey their policies

Chinese is known for not an ass licking country. They want to be a country that control whatever they have, they don't want anything that is monopolies by group or individuals, this is among the reason they banned bitcoin though it's wrong in my opinion. Tje same goes for stocks and some other financial services control by USA.
I don't blame them if they chose not associate their self with what other countries are doing, they are well developed to the point that other nations depends on them and have most of the social stuff within their country, so let them be.

China has always been rather unpredictable, they've been most successful when they took a relatively hands-off and capitalistic approach to the economy in the last few years. They were guiding it and tidying up regulations as problems emerged (e.g. P2P loans) rather than taking overly harsh action. Now it seems that Xi Jinping is consolidating power back to the CCP, forcing CCP party members on to the board of every company, even though they may be utterly incompetent and lacking business knowledge. He is reverting back to the awful ways of the Mao era because he wants to create a cult of personality around himself. It will be a very bad thing for the world as it continues, because he has already set himself up as dictator for life - we can only hope he has a short one and reverts back to peaceful ways.

With a high probability, the Chinese Communist Party decided to change the internal course, and all freedoms will be "curtailed". The Chinese economy is not as stable and powerful as it seems from the outside. The collapse of the construction market, very unexpectedly led to a problem with filling the market with microelectronics, and many other, so far not very noticeable events ... There is still a possible relocation of production sites to other countries. And all this will accumulate, up to a certain critical point, after which an "explosion" will occur ... And a country with a collapsing economy will appear on the globe, and with 1.6 billion population, with a bunch of internal problems and enormous internal tensions ... But that's another story

China has been known for their strict control over anything they think that can ruin their power and get things slipped away from their hands, so they take away the freedom from their citizens, be it anyone with high or low position, but they will not let such power dominate theirs. They are trying to destroy btc because they thought btc is giving back power to the common people and they were not liking it.

I didn't say that and I don't plan to be there because I still love the country I live in :D
But if you look further then that's what makes them strong (at least in the eyes of the world). Even with the series of controversies they have created, that is precisely what makes them perched at the top of the world economy.
They do not hesitate to do something that they think is useful for advancing the country even if it hurts the hearts of its citizens.

That's because they know that they're still weak and that they can't let questions in for their citizens to learn. I mean questioning who governs you is basically the worst thing for the government to be put into because if they question how you do things then you're regime will collapse. I don't think that China cracks down on innovation though, they're just selective of what they're going to innovate in so as to make their country and party much stronger.

Actually, at this time we are being shown the real politics of the Chinese government who wants to take full power on the economy.  After many companies are productive in their country and generate significant income to encourage double-digit economic growth, but we must be aware that their government is currently showing their fangs of power as rulers so that the private sector can comply with government regulations.  This is very good politics for communist socialists.  Do not want any private sector to dominate the market and become a capitalist country

China is always into innovation, that's too clear in any technology aspects they have invented. Their government is just too greedy and wants to fully control their jurisdiction that no one will be above them, and that"s exactly what they're doing to all chinese business owners.

If the Chinese authorities do not close the borders and block the withdrawal of funds, many "weighty" companies can quietly migrate outside of China and continue their FREE development. This will be a very serious blow to the economy - unemployment will be added, budget revenues (taxes) will fall, the development of the economy and the country as a whole will stop, which will lead to internal tension and protests. And Chinese business can be located anywhere - from neighboring countries to the EU or the United States, I think many will be glad to get working high-tech companies, new jobs, new taxes, a new impetus to development

I agree with you... they are into innovations, they are constantly developing and that is visible, but in their wishes to control everything they can they are using all means! I don't trust most of the news from China, they are big manipulators! They are saying one thing, but under the table who knows what they are really doing and their real intentions! At least they are unpredictable for me, so I don't bother too much in analyzing them too much!

China is a big country, the economy of that country affects the economy of the whole world, but what makes it less sympathetic is their way of gaining influence, like in crypto, where a lot of negative news comes from that country. in 2018, news from them had a big impact on crypto developments, in contrast to today, where the impact is not so significant, and is fast-paced

As we have seen with Jack Ma, maybe the Chinese government is afraid of rich billionaires getting influence over the people. Business owners and journalists still just disappear, but would that be possible if a large group of billionaires unites their voices? I don't know, but it is hard to play a type of opposition role as they just destroy your life. Jack Ma was kicked in the ass just for raising his voice. If they can kick his ass, they can probably kick everyone's ass, but how would that change? Who has the power in the state to establish more democratic processes? It is hard to imagine that that could happen anytime soon in China. At the same time the government knows they have to allow for innovation or else they will lose against global competition.

I would say that they wouldn't care even if 100+ billionaires end up saying something. I mean it is obvious that they have a lot of power over people and they do not care if rich people start talking, they would just jail them anyway as soon as they get their hands on them. I would say only possible way for those rich people to talk and make a stand is taking their money out of china and putting it in USA or some other place that is safe, which we all know is not possible since China would not let them take all of their profits outside of China anyway.

So, they can't really talk and be safe, they will be in danger and that has been the case for most Chinese people who criticize china anyway. It is a dictatorship that kills anyone who go against them, so I doubt anyone could make any change.

There is something that many do not understand, the news helps us to keep ourselves informed only with what they can offer, there is much deeper news that most of us do not know, some news that are of great renown sometimes are not reliable, there is always some kind manipulation of information, and only those who are inside China are those who are experiencing the situation as it is and as it is, how everything is presented, many talk about the countries without even knowing the thought of those who are there, we broadcast opinions, which is normal, but there is something that is clear to me, in any communist system, people will never have happiness.

As of now, BABA (the ticker for Alibaba company as listed on the exchanges) is not recovering. The actions by the CCP seem to have dealt a permanent blow to the investors trust in the system in the sense of treating investors fairly and ensuring the rule of law and an even playfield in the markets. I am surprised in fact that there are still Chinese companies that are not following this trend - perhaps investors are considering that this is a special situation that only affects DiDi, BABA and a couple others.