Hong Kong Shares Tumble on a Case of Mistaken Identity, Highlighting Beijing’s Economic Vulnerabilities
While the Communist Party encourages innovation because it’s good for business, Beijing at the same time increasingly tightens control over everything, including innovators’ free thinking.
Stocks tumbled at Hong Kong markets this morning after news emerged of Jack Ma’s arrest. Although the man in custody proved to be someone other than Communist China’s most famous entrepreneur, the incident points to Beijing’s economic weaknesses as it strives to overtake America as world leader.
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