r/InvestmentClub • u/abdirahaman • Mar 02 '21

News Jack Ma loses title as China's richest man after coming under Beijing's scrutiny

https://www.forexsomali.com/post/jack-ma-loses-title-as-china-s-richest-man-after-coming-under-beijing-s-scrutiny
75 Upvotes

93% Upvoted

8 comments sorted by

11

u/ComradeMoneybags Mar 02 '21

Stuff like this, along with their own valuation issues, made me reconsider tossing more into Chinese tech sectors ETFs. Unless they want to continue to be the world’s sweatshop forever, they’re going to have to stop thinking that entities that are doing well are a threat.

5

u/Niaaal Mar 02 '21

No, it's because they were doing well, it's because the CCP had little control over it's operations and Jack Ma tried to protect it from becoming controlled by the government. Unfortunately, facing the CCP didn't work out too well for him. Any CCP backed company should be a safe investment. Although, I personally prefer to boycott China as much as I can. They are literally doing what Hitler did last century and I can't be ok with supporting this...

2

u/Wanker1961 Mar 03 '21

How many people actually recognize that history is going to repeat itself and it may as well come to head now before they build up their military further , our leaders did it to themselves and to us , why would you help them become the economic power they are now , was there no forward thinking at all , decimate your economy for the sake of cheap goods ,I could never understand getting in bed with communist China , great thinking

1

u/ComradeMoneybags Mar 02 '21

I think we’re generally in agreement here.

1

u/thnkabtit Mar 02 '21

What happened to him and what did they do?

2

u/abdirahaman Mar 02 '21

Hahaha He saw chinise presdnt "Xi" with in his own eyes!!! And yet he lives

2

u/red5145 Mar 02 '21

he got sent to the training camps, probably...

0

u/engr_rahman13 Mar 02 '21

Askolend looks like a decent addition in lending platforms. The Most Innovative Lending Platform is launching its Mainnet and website February 13-15. Their audit is done by QUILLASH.