QOTD: China’s Wild Horses

After Chinese tech giants, Alibaba Group Holding Ltd. and Tencent Holdings Ltd., experienced their first-ever quarterly revenue drops and cut jobs by the thousands in 2022, hear this:

Xi Jinping has tamed the wild horses of the private sector… But the problem is that he did such big damage with his policy that the confidence of some entrepreneurs and foreign investors is already destroyed. – Ming Xia, City University of New York.

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