US Should Learn From CCP’s Authoritarianism, Billionaire Investor Charlie Munger Says
U.S. billionaire investor Charlie Munger, vice chairman of Berkshire Hathaway, praised China’s communist regime for silencing Alibaba founder Jack Ma. “Communists did the right thing,” Munger said about what the Chinese regime did to Ma, in an interview with CNBC on June 29. Munger, a longtime business partner of Warren Buffett, said the Chinese Communist Party […]
U.S. billionaire investor Charlie Munger, vice chairman of Berkshire Hathaway, praised China's communist regime for silencing Alibaba founder Jack Ma. "Communists did the right thing," Munger said about what the Chinese regime did to Ma, in an interview with CNBC on June 29. Munger, a longtime business partner of Warren Buffett, said the Chinese Communist Party (CCP) “just called in Jack Ma” and told him “you aren’t gonna do it, sonny,” pointing out that the Chinese tech billionaire was looking to “wade into banking” and “just do whatever he pleased.” “I don’t want all of the Chinese system, but I certainly would like to have the financial part of it in my own country,” Munger said. Ma had publicly criticized China’s financial industry in October 2020 when he said Chinese banks had a “pawnshop mentality” and added that the Chinese finance sector “basically doesn’t have a system.” After making the remarks, ...
