KUALA LUMPUR (Might 10): Late final 12 months, Alibaba Group’s iconic founder Jack Ma disappeared from public life after making scathing remarks about Chinese language regulators. The next months had been a string of unlucky occasions for the e-commerce conglomerate – from the cancelled ANT Group IPO to anti-trust lawsuits.
Alibaba shouldn’t be the one firm held tightly inside the Chinese language authorities’s iron grip. Half a dozen different Chinese language moguls have vanished and reappeared months later, accepting fees of bribery and corruption. Many different Chinese language tech firms comparable to Baidu and JD.com have been slapped with anti-trust lawsuits, whereas state-owned monopolies stay scot-free.
The Chinese language authorities’s latest actions in direction of Alibaba and large tech firms have raised questions on its affect over its personal sector, in addition to the fates of Malaysian firms partnered with these Chinese language giants.
China has been Malaysia’s largest buying and selling accomplice for 12 consecutive years, and a number of other native companies have established long-term relationships and enterprise ties with these Chinese language firms. Some native companies have even established operations and regional workplaces in China.
Nevertheless, many of those firms consider that China remains to be essentially pro-business and eager on selling financial actions, quite than limiting them. Latest actions in direction of huge tech firms are considered as the federal government’s efforts to manage industries that desperately want regulating.
Learn extra about it in The Edge Malaysia weekly’s Might 10 version.
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