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A comment on A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millions of Borrowers. Parent comment

Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by liberalkut on Sunday December 08, 2019 @06:06PM (#21739072)
Ant Financial is owned by Alibaba and Jack Ma. Alibaba is founded and owned by various communist party members. Jack Ma is a communist party member. Ant Financial is essentially co-owned by the Chinese Communist Party.

In order to encourage a failing economy, trap more consumers in debt (China has an outrageous 400%+ total debt to gdp) and prevent unrest, CCP is giving a $7 credit limit to its 700M people in poverty. Whether it works or not is debatable, as Chinese consumers are already neck deep in debt and hurting from rising inflation

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Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by 9nGQluzmnq3M on Sunday December 08, 2019 @07:12PM (#21739448)
There are close to 100 million CCP members, and virtually every successful businessman in China is a member. Alleging that this app is some deep conspiracy by CCP top brass is both unlikely and unhelpful, especially given that the Party has been clamping down on loans elsewhere.
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Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by antielectronite on Sunday December 08, 2019 @08:33PM (#21739777)
You think that it's a coincidence that every successful businessman in China is a CCP member?
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Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by dragonelite on Monday December 09, 2019 @04:58AM (#21741483)
Or maybe successful businessmen just want to buy influence in what ever system they are operating. In a democracy you donate or lobby parliament, in a one party system you become part of the party to get closer to the people in power. Seems pretty smart of businessmen if you ask me, not saying i'm condoning that behavior. But then again im not a successful businessman.
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Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by 9nGQluzmnq3M on Monday December 09, 2019 @02:23AM (#21740957)
No, I'm just saying membership is a logical step to take for every Chinese businessman, and doesn't imply very much about their actual ideology or the degree to which their actions are dictated by the party.
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