Chinese businessman Jack Ma has appeared via video link, delivering a speech at an awards event for rural teachers, weeks after the Alibaba co-founder disappeared from public view, following a dispute with regulators.
The high-profile entrepreneur delivered a virtual address during the Jack Ma Rural Teachers Award ceremony on Wednesday morning.
China’s entrepreneurs must help to promote “rural revitalization and common prosperity,” Ma told the group of educators, adding: “We'll meet again when the [Covid-19] epidemic is over.” The state-run Global Times published a 50-second clip of his remarks. The Jack Ma Foundation confirmed that the businessman had taken part in the ceremony, an annual event started in 2015 that honors educators in rural areas.
Looks like Jack Ma went through some "re-education." Maybe other countries should adopt this "program" for their billionaires.
Actually, Ja Ma is a member of the CCP, which is an elite organization that demands actual performance, and he has been socially responsible in general in addition to being a wildly successful entrepreneur and innovator. So this is not a significant change for him. He as long been committed to improving the lot of ordinary Chinese and is looked upon favorably by most people.
But he stepped over a line in calling financial regulators fuddy-duddies for resisting his financialization scheme that would have popularized easy credit. What could go wrong with that? As the regulators were no doubt thinking, "lots." Of course, Jack Ma is being paraded as a victim in the West.
RT
Alibaba’s Jack Ma issues video message, ending nearly 3-month ‘disappearance’ after a run-in with Chinese regulators
RT
Alibaba’s Jack Ma issues video message, ending nearly 3-month ‘disappearance’ after a run-in with Chinese regulators
3 comments:
But he stepped over a line in calling financial regulators fuddy-duddies for resisting his financialization scheme that would have popularized easy credit. Tom Hickey
Low interest rates are good but only if they are produced ethically*.
Otherwise we're just switching from usury** to a subtle form of theft on behalf of the more so-called creditworthy at the expense of the less so.
*eg. an equal Citizen's Dividend to replace all fiat creation beyond that created by deficit spending for the general welfare.
**Usury is, per the Bible, ANY positive interest rate and not just high*** positive interest rates.
***Even John Calvin thought interest rates over 5% were usury and that the poor should not be charged interest at all.
Did they take away his billions?
He's not a victim.
I suspect the Chinese regulators were right to think that "lots" could go wrong with Ma’s “popularisation of easy credit”. After all the Wild West banking scene in the US in the 1920s and hundreds of bank failures that involved demonstrated that setting up your own bank, and creating and lending out your own home made money is tempting and profitable, till it all comes crashing down.
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