[ad_1]
Jakarta, CNBC Indonesia – In China, Jack Ma is synonymous with success. He is an English teacher who became a businessman and the richest man in his country. He founded Alibaba, Amazon’s rival. Even after Donald J. Trump was elected president of the United States in 2016, Jack Ma was the first famous Chinese he met.
Jack Ma’s success earned him the nickname ‘Daddy Ma’ on the internet. For young and ambitious Chinese, the Daddy Ma story is one that should be imitated.
But lately, public sentiment has deteriorated and Daddy Ma has become a very hated man in China. He was called a “criminal,” “evil capitalist,” and “blood-sucking ghost,” as quoted by the New York Times, on Monday (1/4/2021).
One author made a list of Jack Ma’s “10 Deadly Sins”. Instead of saying “daddy,” some people started calling him “son” or “grandson.” In history about it, more and more people leave comments quoting Marx: “Workers of the world, unite!”
This loss of status occurred because Jack Ma faced increasing problems with the Chinese government. In October 2020, Ma publicly criticized financial system regulators and state banks during a public debate in Shanghai.
Jack Ma called for reforms to the financial system that “stifled business innovation” and compared China’s current banking regulations to a “parent club.” He also said the Bank of China operates with a “pawn shop” mentality, Reuters reported.
Of course, the speech angered the Chinese government. His criticism was seen as attacking the authority of the Communist Party. The impact is a harsh crackdown on Alibaba’s Fintech business, Ant Group.
