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The Bureaucracy Strikes Back

In: China’s Technology War

Author

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  • Andrew Collier

    (Pine Court)

Abstract

The speech by Jack Ma instigated a new era of regulation through a number of bureaucracies in Beijing. This began a period of increased regulation over data, financial risk, antitrust, and other areas. The most significant risk was the entry of Ant Financial into banking by arranging loans for smaller banks. The risks are analyzed in detail to show how they were exaggerated and how there was a loss to efficiency of financial intermediation. However, conflict between bureaucracies slowed the enactment of new laws and resulted in a confused regulatory environment for technology companies competing both within China and internationally. In addition, the style of governance, and many of the rules, suggested that the changes were as much about rectifying a perceived power imbalance between the government and the private sector as it was improving the business environment. The combination of aggressive intervention and an uneven regulatory environment is likely to persist for a period of time.

Suggested Citation

  • Andrew Collier, 2022. "The Bureaucracy Strikes Back," Springer Books, in: China’s Technology War, chapter 0, pages 27-45, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-3042-3_3
    DOI: 10.1007/978-981-19-3042-3_3
    as

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