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A recent article by The New York Times reveals new details about the mysterious disappearance and return of two Chinese businessmen, Jack Ma and Xiao Jianhua. These events reflect the complex relationship between the private sector and the state in contemporary China.
The Disappearance of Jack Ma
Jack Ma, the founder of the e-commerce giant Alibaba, disappeared from the public space in late 2020 after criticism from Chinese regulators. Ma disappeared for several months, causing numerous rumors and speculations. His disappearance became a symbol of the increasing control of Chinese authorities over private companies. Despite his return in 2021, his influence and activity have been significantly limited.
The Secret of Xiao Jianhua
Xiao Jianhua, the billionaire and founder of Tomorrow Group, was kidnapped from a luxury hotel room in Hong Kong in 2017. The event drew international attention and raised concerns about China’s expanding control beyond its borders. Xiao, who had close ties to Chinese elites, was forced to return to China, where his assets were seized and he himself was investigated.
Political and economic consequences
These disappearances illustrate the Chinese government’s strategy to tighten control over the private sector. This is aimed at reducing the influence of large businessmen who may pose a threat to political stability. However, such policies also create uncertainty for investors and businessmen, increasing the risks of doing business in China.
The impact of such measures on China’s economy could be significant. On the one hand, increased control can contribute to a more stable political environment. On the other hand, it can scare away foreign investors and slow down innovation in the private sector.
The cases of Jack Ma and Xiao Jianhua highlight the complex and often tense relationship between the Chinese state and private business. These stories serve as a reminder that political and economic realities in China can change rapidly and unpredictably, leaving entrepreneurs in a state of constant uncertainty.
