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Chill pervades China's tech firms even as crackdown easesBy ZEN SOO HONG KONG
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He should have moved to Tokyo much earlier than that.
Yeah those Chinese stocks are kind of rough these days.
The EV stocks in particular were some good money makers for a while.
Chinese tech folk will just hop the border and work in other nations. Most of them still want to emulate Ma - get rich and move to Tokyo - so no change there. The EU and US are targeting their own tech companies and rolling out restrictions and regulations. Asia has a huge user base and GAFA 2 will most likely emerge there, probably built by Chinese ex-pats.
I wonder what happens to the good Mr. Ma when it comes time to renew his Chinese passport? Will China allow it to be renewed or will they force him to return to China? If so would he apply for asylum somewhere?
I guess Japan could throw him in a cell for a couple of years until his asylum request is rejected.
Much of these problems were of the Chinese government's own making. By championing just a select few companies by giving them special treatment while stifling their competitors, thus making them grow into giants without the check of competition and innovation. Now that has to rein them in whimsically, so investors have no trust that they can be wiped out just like that, and not due to business reasons that can be planned for
This is the Chinese way of life, do as we say, think our way, if not you will disappear like MA at one time be re-educated and silenced. Once reeducated they release you to go where ever you want to go with threats of cancelling your passport or demanding you return, worst case dead!