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November 6th, 2020

Jack Ma and Ant Financial Are In Trouble!

Ant Financial was set to have the biggest IPO in history on the Shanghai and Hong Kong stock market. But then a Jack Ma speech criticized the Chinese Communist Party and its financial regulators. And then suddenly Ant Financial had its IPO scrapped. Ant Financial and its incredibly popular Alipay has changed the way Chinese people interact with money through microfinance and money management. And that's made them some powerful enemies. Jack Ma's Alibaba Group also took a dive in the stock market.


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