Alibaba Founder missing after criticising Chinese Government

It has been 2 months since Jack Ma has been missing.

The Chinese billionaire has been reported missing after his speech in October, where he criticised the Chinese regulations and called the banks "pawnshops". Since November 2019 Jack Ma has not made any public appearance and did not feature in Africa's Business Heroes' final episode. This absence from his show and removing his picture from the show's website has made people concerned about his whereabouts.

It is speculated that the Authoritarian Chinese Governments are behind this disappearance and withdrawal from the public eye. The November speech where he also called the banks backwards, resulted in the Beijing based party to halt Alibaba's affiliation with Ant Financial.

Ant Financial is the world's largest startup and was affiliated with Alibaba Group until Xi Jinping's personal decision on halting their partnership. Ant Financial works in the technology and financial services industry and is an aggregator of online fund transactions.

Ant Financial used to be called Alipay. (Ali-pay... Ali-baba) It is a part of the Alibaba Group. Ant Financial now was set to become a public firm in early November and was estimated to raise more than $34 Billion on its opening day. This would have been an enormous win for Alibaba and Jack Ma, but the Beijing based Government has stopped the IPO and halted the float of Ant Financial's shares until further notice.

Alibaba, the e-commerce panel, is currently under an anti-trust investigation by the Chinese Government. They have also added regulations that limit Ant Financial's transaction quantity and other services, which has decreased the value of Alibaba's shares and decreased Jack Ma's wealth.

According to the New York Times and NHK World, Jack Ma criticised the banks for being too stringent with their loan giving policies. They would only provide loans to the entities which would successfully present the collateral. Xi's Government is looking at enhancing sustainability and healthy development. Therefore, the Communist Party of China (CPC) is willing to tap into long-term clashes against the Chinese rich for focussing on economic development over economic growth.

Chinese Government has also been focussing heavily on using legislation to counteract collusion and minimise monopolistic ideas. They are even cracking down on the tech giants to ensure governmental power. They are also looking at maintaining economic, social and resource-based sustainability.

Now you read China, and you read missing Jack Ma; suddenly, negative propaganda arrives. However, what the Chinese government are doing is nothing less than commendable. Many issues in today's India and even other second to third world countries lack respect. Now the respect can be for the rules, the banks, the police, and the government. Jack Ma's not so subtle take on the Chinese banks could be ignored if they were done in India. But, not in China.

The stringency is not right on the ethical turf; however, it is necessary to maintain law and order. Furthermore, there is a whole perspective on the economic front. China, as a nation has been growing economically. It is at the forefront of Economic growth, followed by India. India has taken out a PLI scheme to follow the same economic growth patterns China had once used.

The difference between China and India at this stage is not of the level of growth, but the difference is the goals. India's PLI scheme will result in further separation of the masses from the Top 1%. However, the enhanced stringency offered by China is a method to close the gap. The shifted focus towards economic development, which means economic equity is a method of achieving extended run benefits for the whole economy.

This is a regulatory pattern many countries in the future will follow. And I support this, even though the alleged "missing" of someone is incorrect, but the ideology which is being aimed for is correct.