Published on 9 Feb 2021
Introduction: The Ant Group is planning a major revamp in response to pressure from Chinese financial regulators, just three months after Jack Ma’s outspoken remarks against them. New antitrust rules concerning tech firms went into effect on Sunday. While Ma’s critical speech may have been the tipping point for the government to rein in Big Tech, there have been long-standing economic, social, and industrial policy issues that merit the government’s action. In fact, Beijing’s recent efforts to strengthen antitrust regulation in the tech sector are motivated by a larger goal: to become a technology superpower and achieve self-sufficiency so that China no longer needs to rely on the West... Click here to read the full text.