China's government is buying Alibaba and Tencent shares that give the Communist Party special rights over certain business decisions, report says
news.yahoo.com
The stakes usually involve a 1% holding and are known as "special management shares," according to the Financial Times.
  • @Munrock
    6•1 year ago

    I have a feeling that the CPC would prioritize the wellbeing of their people over the stock lines going up.

    I agree, but those are linked together when you have a system that suppresses Wall Street-style financial fuckery: the trade value of the business sits closer to the actual value of the business, and the value of the business is tied to its usefulness to people.

    Also, in times of economic turmoil, China rides it out better than anywhere else. But then again part of that is because of social safety nets that wouldn’t be there for foreign investors.