Alibaba is the Chinese version of Amazon.
Whereas the US government allows tech companies to run completely buckwild and enslave the population, destroying all smaller businesses, China enforces laws to prevent tech companies from doing this.
This is what it looks like when a government actually cares about the population.
Tech giant Alibaba’s stock continued to tumble on Tuesday, falling 18% this month and wiping out all of October’s gains on concerns over possible renewed regulation of online platforms in China.
The company’s shares were down 3% at HK$132.90 as of 11:06am in Hong Kong (03:06 GMT), hovering near record lows. Brokerages say that they see rival JD.com as a buy with much better profitability.
China’s State Administration for Market Regulation said over the weekend that it had fined Alibaba, Tencent, and Baidu, among other tech companies, for breaching antitrust law by failing to declare deals as far back as 2012.
The competition regulator imposed a fine of 500,000 Chinese yuan ($78,279) for each of the 43 cases listed in its investigation.
China is not a freedom-oriented country, because the Chinese people have no history of valuing freedom, specifically, in the way that Americans do. However, despite this fact, the Chinese have ended up with significantly more freedom than Americans.
It is simply absurd that the US government refuses to regulate monopolies. It’s an outrage. No sane country would allow the entire market to be taken over by mega-corporations.
Meanwhile, the same government that allowed a total takeover by corporations actually goes around encouraging communism. It’s all just endless corrosive nonsense from these people.
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— 🌸Lynae🌸 (@lynaem88) October 1, 2020
You have to have a free market if you want to have any kind of freedom. Both monopolyism and communism are ways of destroying the free market in order to allow a tiny minority of parasites to feast on the flesh of the people.
The refusal to regulate the tech industry is just as insane as anything else happening now, in that it is totally inexcusable and totally obvious. It’s as insane as the coronavirus hoax or the global warming hoax. People can see with their eyes that there is no pandemic or that the weather isn’t changing, but it’s apparently harder to see the fact that the government has a responsibility to regulate companies using anti-competitive practices.
Republicans have abandoned traditional American free market capitalism and have taken to lobbying openly for anarcho-capitalism. Of course, we don’t actually have anarcho-capitalism and they don’t actually even push for that, but instead just claim they are pushing for that in order to confuse the masses.
I don’t support anarcho-capitalism. America prospered under our previous system, and there was no reason to change to this extreme new system, which has led to so much corruption. However, if we had actual anarcho-capitalism, then these corporations would not be allowed to cooperate with the government, nor would small businesses be so aggressively regulated while big businesses are unregulated.
There is no actual word for this current system, other than “corruption” and “tyranny.”
Republicans go around falsely claiming that China is “communist” – while the Chinese system is much closer to the American system up through the 1970s that built so much wealth in this country than our current system of bloodsucking.
Meanwhile, the left doesn’t care about monopolies either, just as long as the monopolies promote gay anal rimjobs and pronouns.
Other countries at least fine these companies.
Italy's antitrust authority has fined #US tech giants #Amazon and #Apple Inc a total of more than 200 million euros ($225 million) for alleged anti-competitive cooperation in the sale of Apple and Beats products.https://t.co/c3slXtTrpa
— The Hindu (@the_hindu) November 23, 2021
— New York Post (@nypost) November 23, 2021