China imposes a record fine of 2.3 billion euros on webshop giant Alibaba

According to Western observers, the Chinese government is targeting Alibaba and because it gave the company too much power and wanted to ignore guidelines from the Chinese government. The group’s founder, 56-year-old Jack Ma, has fallen out of favor with the communist government for criticizing the financial regulator. Last October, Jack Ma disappeared from the radar. It wasn’t until the end of January, three months later, that he reappeared. Presumably he feared for his safety for a while or wanted to avoid arrest.

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