Collapse of Chinese startup ecosystem. Cost of detaining Jack Ma will be in trillions ! Deng Xiaoping must be cursing Xi Jinping from heaven
Jack Ma was correctly clamped down upon. He was doling out loans and becoming the de-facto financial authority without any responsibility while all the burnt was faced by state owned banks. Chinese are too based and don't shy away from taking the correct actions. Another based action is permanently banning private coaching classes because it is bad for students.
If he just stayed quiet instead of openly shitting on the government who was being the bag holder till then, his IPO would have probably gone through.
Though the fact that they didn't clamp down on being the bag holders till then is the real question. But anyways, you do stupid things and you get stupid outcomes.
The west (because they cannot extract easy money from china): _oh noo china bad, china collapsing, uhh, line go down_
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