Comments on Alibaba with Gary Lee

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Tseung
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Comments on Alibaba with Gary Lee

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Gary Lee
"China government doesn't need to punish Alibaba, just turn the superfast approval process to a 'cautious' process, lax inspection to thorough inspection, and promote more competitors in related turf...."

This is an area worth a Think Tank to spend time and energy. The following points should be noted:
(1) Should Micro loans (start at RMB500, average 3,000, top 50,000) have a simple, speedy procedure?
(2) Should Micro loans be based on asset or on payment history?
(3) Will Micro loans benefit the Rich or the Poor more?
(4) Credit Cards charge interest rates comparable to Alipay (14%). Is that acceptable?
(5) Banks may loan out 9 units more than its deposits. These 9 units are “money from thin air”. Banks receive interests as well as principal on such thin air. HSBC became one of the largest Banks in the World via such loans on real estates.
(6) Should a Foreign Bank has the above privilege? Is there a potential safety threat? Was this one of the reasons USSR collapsed?
(7) Should a domestic Bank be carefully monitored? Should Government be the ultimate guarantor in the Banking and Financial System?

Tseung
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Re: Comments on Alibaba with Gary Lee 山海情

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I watched it (山海情) and would watch it again. It revealed not only the efforts in poverty alleviation but also the "not using Big Data" efficiently. Take the case of growing mushrooms. The local market could make a few growers rich. But a few hundred would over supply the local market.

With proper use of Big Data, all these could have been foreseen. Jack Ma said: "No business is too difficult." With Big Data, one can also identify Big Investment, Big Market, Big pool of talent and thus perform Big Planning. If the local officials used Internet and Big Data well, the task would have been much easier.

Now, Chinese Government should use Big Data to further prosperity for all...

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