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Form Xi

Form Xi

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[CC may contain inaccuracies] After a couple of years cracking down on the private sector and the Internet platform economy, she's now saying China actually needs them. Yeah, kind of interesting, isn't it? Because of course, over the last three years we've seen that regulatory crackdown on the likes of Alibaba and others, Tencent taking away some of their mojo. Obviously, they created jobs. They created an Internet platform economy in China, unrivaled, really. Except, of course, in the United States. And they bred innovation. But perhaps the argument in Beijing during that during that crackdown was that these companies became too big and too monopolistic and therefore stifled innovation. Well, things have changed on the geopolitical front, obviously, with the Biden administration export curbs on chips and the push in China to throw tens of billions of dollars more at its own indigenous innovation and self-sufficiency in key areas of technology, whether it's a I or advanced semiconduct

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