It seems that the Chinese government has seen the acceleration of power wielded by both the big near-monopolistic U.S. tech companies and the uber-rich, and are taking aggressive actions to avoid the same situation in China.
after criticizing China’s financial system by calling for changes and reforms and wasn’t seen for about two months. He “retired” from Alibaba in September 2019. There was speculation, at the time, that Ma's retirement was due to tension with the Chinese Communist Party. It was believed that theMa criticized China’s banking system, deeming it run with a “pawnshop” mentality, during a conference. His speech preceded the planned initial public offering of his Ant Group.
.” The disappearance of wealthy business professionals isn’t unusual in China and has been occurring for a while. According to a 2017 piece in theMa is not the only one espousing these views. Over the last couple of decades, China has powered its economy to rival America’s dominance. The push by the Communist Party leaders hasn’t come without a cost. The country’s punishing hardcore work ethic has a dark underside to it.in China’s tech sector.
.” This includes instances in which workers were photographed holding signs saying they won the “freeloader award” and were told to share them on their social media accounts. A man was forced to “dance around the office clad in black pantyhose” and if an employee refused, they were fired. There are stories of workers ordered to eat and drink “raw bitter gourd, toilet water and even live worms.
A relatively new sociological term “involution” was coined. It means that “technological advancement in a society is no longer reflected in improved living standards among its people,” which may account for China’s brutal work-life and the ugly aspects of America’s hustle culture.
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