Chinese regulators have ordered online platforms to ensure food delivery riders earn above the country’s minimum wage, that riders be freed from unreasonable demands placed upon them by algorithms, and that these workers have access to social security and a place in a union, in a likely financial blow to big delivery services companies such as Meituan.
The new proposed regulation to require all tutoring companies be non-profit that kill off a billionaire (losing 15 billion $) overnight and now this, hope China can keep this up :xi-clap:.
Its not really a matter of who owns the stock, its a matter of the actual capital fueling Chinese development and contributing to economic growth and investment and allowing for the gov to spend money on infrastructure and poverty alleviation and stuff like that. If a Chinese company goes public and raises money from foreign investors, it achieves its goal of intaking capital and funneling it into internal development, regardless of what happens to the stock owners. The stock can delist and go to 0, it wouldnt really matter would it? But the problem of capital flight is persistent still in China, I think you overestimate the internal ability of the Chinese economy to singlehandedly juggle all of the massive projects being undertaken across the country, especially in light of decades of financialization and speculative debt buildup. Also I think theres more capital than just american to think of, and either way, a complete political and economic expropriation by the state would absolutely trigger actual capital flight that comes with actual ramifications for the economic development of the country, which is why I think we dont see as much rattling, especially in light of all these recent attacks on China by the west. Dont underestimate the capability of the US and its allies to fuck over the whole world just to get their way.