Re:China plans to break up Ant's Alipay and force creation o...
by karmasimida on Monday September 13, 2021 @02:16PM
(#28514807)
Nationalization is expensive and inefficient though.
With nationalization, PayPal won't even be created in the first place. Because why? The purpose of nationalized institutions is not chasing profits, and let me tell you, they hate changes unless they absolutely have to.
So for Alipay, even China is not going to nationalize it to the point that it becomes a state apparatus, the Chinese government would like to enforce control when they want to, and makes it obvious to Ant's factual owners.
With nationalization, PayPal won't even be created in the first place. Because why? The purpose of nationalized institutions is not chasing profits, and let me tell you, they hate changes unless they absolutely have to.
So for Alipay, even China is not going to nationalize it to the point that it becomes a state apparatus, the Chinese government would like to enforce control when they want to, and makes it obvious to Ant's factual owners.