Wednesday, November 4, 2020

Ant Group’s Long March — Shang-Jin Wei


Backgrounder of the pros and cons. Basically, fintech makes more services available to the public and is competitive with banks, but the result of fintech centralization is increasing inequality and also financial risk that adds to systemic risk.

Project Syndicate
Ant Group’s Long March
Shang-Jin Wei | Professor of Finance and Economics at Columbia Business School and Columbia University’s School of International and Public Affairs, and former chief economist at the Asian Development Bank. 
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1 comment:

Peter Pan said...

Reinventing the wheel is innovation?

Ant Group is equivalent to Uber.

Is Uber innovative in the sense it avoids regulations that apply to the established taxi industry?

Competing against market players will benefit the consumer. But lets be sensible about the need for regulatory oversight.

November 4, 2020 at 1:41 PM

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