Billionaire Berkshire Hathaway Vice Chairman Charlie Munger praised China’s ruthless authoritarian economic tactics during a recent CNBC sit-down interview.
Speaking to reporter Becky Quick during a piece on fellow billionaire Warren Buffet, Munger said he admired the Communist Chinese regime’s ability to control its economy and keep revolutionaries like Alibaba billionaire Jack Ma from meddling in the nation’s finances.
Munger remarked at how effectively China was able to “disappear” Ma, who was prevented by the Chinese government last year from launching an IPO for his new banking company Ant Group.
“What about what they’ve done to Jack Ma? He’s kind of disappeared as–” Quick asked.
“Well, yes, but Jack Ma is one of the swingers,” Munger answers. “So, they just cut his, they said, ‘To hell with you.’ He basically gave a speech when he said to a, to a one-party state, ‘Well, you guys are a buncha jerks, don’t know what you’re doing. And I know what I’m doing, and I’m gonna do it better.’ And he was gonna wade into banking and no rules and just do whatever he pleased.”
“Communists did the right thing,” Munger added later in the interview. “They just called in Jack Ma and say, ‘You aren’t gonna do it, sonny.’ And, and I wish we had a, I don’t want the, all of the Chinese system, but I certainly would like to have the financial part of it in my own country.”
Activist Billionaire Praises China For Silencing Activist Billionaires
source https://www.infowars.com/posts/watch-berkshire-hathaway-chief-charlie-munger-praises-china-for-silencing-activist-billionaires
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