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The Setting

In: China’s Technology War

Author

Listed:
  • Andrew Collier

    (Pine Court)

Abstract

This chapter outlines the beginning of the technology crackdown with the speech by Jack Ma of Alibaba on October 24, 2020. It then traces the reaction to the speech within the Chinese leadership and the gradual rise of a series of measures restricting the growth of China’s technology sector. It classifies the underlying motivations for the policy shift according to economic and political rationales. Economically, the platform economy was viewed as increasing the risk of financial instability, particularly regarding Ant Financial’s lending business. However, more important, political control for the Communist Party is discussed as the underlying reason for the government’s actions, many of which had no economic rationale. Last, the chapter discusses Xi Jinping’s Common Prosperity program to improve the distribution of income and why it is likely to fail due to economic difficulties of implementation and structural deficits in the Chinese economy.

Suggested Citation

  • Andrew Collier, 2022. "The Setting," Springer Books, in: China’s Technology War, chapter 0, pages 1-10, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-3042-3_1
    DOI: 10.1007/978-981-19-3042-3_1
    as

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