Global finance: understanding the retreat of the Chinese private sector phenomenon

Chinese billionaire Jack Ma has retired from being the executive chair of Alibaba Group. Some believe he was forced to step aside by the Chinese government, according to Chinese social media. Jack Ma retirement is aligned with the Chinese government’s Guo jin min tui alleged phenomenon, which means the state enterprises advance and the retreat of the private sector. Ivan has invited Dr. Wei Li from Sydney University Business School to help us understand whether or not this phenomenon exists, and how would this phenomenon affect the future US Chinese trade war in the future?

Jack Ma has announced his retirement from his e-commerce giant Alibaba. Source: AAP