<story><title>China CCP to Nationalize Jack Ma&apos;s Alibaba and Ant Group – Report</title><url>https://www.ibtimes.sg/china-ccp-nationalize-jack-mas-alibaba-ant-group-54444</url></story><parent_chain><item><author>notJim</author><text>Why is it better for Chinese billionaires to run the country than the CCP? Seems like just trading one master for another.</text></item><item><author>orange_tee</author><text>The West thought once China is full of billionaires, the billionaires having all that wealth would then have the power to oppose and dissolve the CCP. 
Didn&amp;#x27;t go as planned.</text></item></parent_chain><comment><author>mhh__</author><text>The conditions that lead to billionaires through business - note the distinction from russian oligarchs - are generally pretty liberal. You still dont want billionaires actually in charge, but there is a correlation between  economic freedom and social freedom.</text></comment>
<story><title>China CCP to Nationalize Jack Ma&apos;s Alibaba and Ant Group – Report</title><url>https://www.ibtimes.sg/china-ccp-nationalize-jack-mas-alibaba-ant-group-54444</url></story><parent_chain><item><author>notJim</author><text>Why is it better for Chinese billionaires to run the country than the CCP? Seems like just trading one master for another.</text></item><item><author>orange_tee</author><text>The West thought once China is full of billionaires, the billionaires having all that wealth would then have the power to oppose and dissolve the CCP. 
Didn&amp;#x27;t go as planned.</text></item></parent_chain><comment><author>eternalban</author><text>Jack Ma is a member of the Communist Party of China.&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.reuters.com&amp;#x2F;article&amp;#x2F;us-alibaba-jack-ma-idUSKCN1NW073&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.reuters.com&amp;#x2F;article&amp;#x2F;us-alibaba-jack-ma-idUSKCN1N...&lt;/a&gt;&lt;p&gt;This is a classic power struggle between ideological and technocratic elements. Jack Ma vs Xi Jinping. Jack Ma, a communist party member, challenged party Chairman. As we can dispense with the notion that Jack Ma lacks the necessary wits, the actual interesting question is why did Jack Ma think it opportune to openly challenge Xi Jinping at this time?&lt;p&gt;In the US, this struggle is a non-issue as the ideological element (venture capital) finances and controls the technocrats (such as Jack Dorsey). We just however recently were treated to a purported “outsider” ideologue locking horns, via technocrat proxy of FANGs, with the ideological establishment. Given that this outsider also happens to (still) be the head of state in USA, I guess we need not wonder too deeply as to the logic of CPC reminding a prominent party member and fellow travelers of who still calls the shots in China.</text></comment>