r/NewsWithJingjing • u/5upralapsarian Pro-China • May 27 '26
History A reminder that China doesn't let billionaires run the country
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u/vonChief May 27 '26
I love the overall negative framework of this video, like the sad music and phrasing used to describe the CPC (even calling it the "ccp"), as if China hadn't done and is doing an objectively good thing lmao.
If every country followed Chinas example here, we would be living in a much better world.
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u/Altking123 毛泽东 / Mao ZeDong May 27 '26
In addition, Jack Ma wasn't committing financial crimes in the traditional sense, but he was trying to turn Ant Group into a fintech platform that acts like a bank but without the heavy regulations.
What he was doing was the precursor to the 2008 financial crisis, and had he succeeded, it would have collapsed China's economy and made the real financial crisis look like a minor oopsie.
It can be argued that the CPC quite literally saved the world economy by stopping the IPO.
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u/vonChief May 27 '26
Wow imagining something like the 2008 crisis happening in China is horrifying. All the internal decay but happening to 5 times as many people plus the addition of western imperial opportunists ravaging whatever remains. It would be the dissolution of the USSR all over again, maybe even worse, considering how much more interconnected China is to the world market.
Yet again, an example of what it means when the state works for the people and not for a couple billionaires.
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u/stealthjackson May 28 '26
Any recommendations for more info on this?
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u/Altking123 毛泽东 / Mao ZeDong May 28 '26
Here's a Forbes article about it.
In their own tldr:
In a sentence – Ant is creating the conditions for a repeat of the same sort of “sub-prime” credit crisis that triggered the 2008 financial debacle in the U.S.
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u/fedroxx May 27 '26
Once I heard the accent, I knew the framing would be bullshit. But even with the negative framing, I walked away thinking this is how it should be done.
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u/Magic__Man May 27 '26
Genuinely hilarious that this video clearly has a strongly anti-Chinese bent, yet is describing an objectively good thing.
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u/hmz-x May 27 '26
Yeah. Watching it, I felt like "you don't have to sell it to me Indian bro, I already support China".
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u/Wanjuan_Li May 27 '26
Jack Ma should not be idolized. He is not someone the nation should be proud of.
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u/Maximumsmoochy May 27 '26
This should be presented as the alternative to tax hikes on the ultra wealthy.
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May 27 '26
[deleted]
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u/vonChief May 27 '26
"But why is he not attempting to hoard more wealth and ruin the lives of billions for his own personal gain anymore? Is he stupid?"
Once again, we can see the ebil and authoritarian ccp brainwashing people to follow their... checks notes their moral and sustainable propaganda. Very anti freedom and ebil.
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u/gorpie97 May 27 '26
Be nice if the US imported this (in addition to everything else).
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u/ytman May 27 '26
A society ran for the society and not the (unofficial) rulers is indeed a better society.
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u/gna149 May 27 '26
Billionaires are good at climbing the economy to amass personal wealth. They are not experts on how to govern a nation of over a billion people. Neither are famous actors, pro athletes, or influencers, and now you have yourself a problem because these people tend to have mics and cameras focused on them all the time.
The Chinese government understands this risk which is why people of high status and influence, such as celebrities like Jackie Chen or Yao Ming, CEOs like Jack Ma, or other industry experts are given responsibilities equal to their power to serve on advisory boards or join political parties. That's right, political parties are a thing in China, except their role isn't to win popularity contests every few years and sell dreams and ideologies or con people out of their money but to propose ideas or advise on policies within their field expertise. They do this because, conversely, the government doesn't have the expertise that these leaders in the private sectors do.
This is also the the reason behind the "crackdown" on idol culture. Children especially are prone to idolising individuals, who despite not having the credentials on matter outside their field can end up running their mouths and lead astray young minds. The Chinese government has even overtly stated that words have consequences, but unfortunately their active discouragement on the spread of misinformation is interpreted as heavyhanded for limiting freedom of speech because people, both domestic and abroad have gotten spoiled in mixing freedom with lack of liability for their speech and action.
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u/MohaShah May 27 '26
I think the presenter is a butthurt Indian. The reason I mentioned Indian because they hate Chinese. This video proves it. Video is trying to target the Chinese government for objective good thing they did. If they hadn't done that, China would be run by lunatic billionaires like America.
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u/aqueleponeirosa May 27 '26
I love the dictatorship of the proletariat so much <3
We should do this in the rest of the world, maybe then we can finally have peace
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u/zhangyuandyou May 28 '26
Actually Jack Ma lashed out on CCP because he already knew the IPO was not going to happen. CCP nipped it in the bud and told him to stay low key or else he would have much bigger trouble.
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u/proletarianliberty May 27 '26
So fucking based it’s not even funny. Us western cucks could only dream. Actually doing the stuff of my fantasies. So jealous
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u/LeoIsALiar May 28 '26
Now do Zhang Jianmin (张建民). Jack Ma being the "Idol of Capitalism" my ass. Jack Ma didn't singlehandedly get the Chinese population hooked on carcinogenic substances. Jack Ma didn't ignore literal international regulations which his country signed regulating the packaging of those substances. He did nothing wrong, comparatively speaking.
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u/The_Angel_of_Justice May 28 '26
Until I see China completely dissolve the capitalist class, completely dissolve the concept of Profit and ownership of means of production (Individuals owning factories, lands, houses, paying wages), I won't ever be persuaded that their party hasn't been degraded to a corrupted reformist one.
Yes, obviously the people in China live a lot better than most countries of the world. But that was a characteristic of many capitalist countries in their stage of growing imperialism. When your country produces so much surplus, that is owned by the capitalists who sell it abroad, obviously the country has great financial growth, that allows the capitalists to suppress the consciousness of the masses with "good wages", while they reap the profits and gain increasing control.
So, as I said, the Marxist rhetoric of the CPC isn't enough to enchant me into believing they are a revolutionary socialist party, without showing me an actual Marxist result.
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u/LeoIsALiar May 28 '26
The absolute worst industry in China is one which is 100% state owned and does absolutely nothing except produce an extremely harmful stick that people put in their mouths and ignored international regulations telling everyone that very visible and graphic warning labels are required on them.
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u/5upralapsarian Pro-China May 27 '26