Himalaya Toronto Maple Leaf, Jojo
• Alibaba stock reportedly closed down 13.4%, wiping off approximately $100 billion from its market cap after the Chinese Communist Party (CCP) said it would open up an antitrust investigation into the tech giant.
o As Mr. Lu De brought up in the previous episode, this investigation is probably against the Foreign Corporation Holding Act that President Trump just signed, showing the U.S. that Alibaba has no ties to the CCP.
o Dr. Mo adds that the current investigation held by CCP also may protect Alibaba from being audited by the U.S. government, and low share price may be beneficial for possible future buybacks when it gets delisted in the U.S. market.
• Institute of Chinese History, Chinese Academy of Social Sciences that just made a claim that ‘the movement to the mountains and the countryside’, was a feat made by the CCP, was slammed by Chinese people on the social media.
• CCP’s Daily newspaper, Global Time, said it’s “Hard to beat COVID-19 without China’s vaccine”.
• Chinese lawmakers began deliberating a draft law on preventing food waste to ensure food security.
o It is an indisputable fact that China is facing massive food shortages.
o Xi Jinping just made a proposal a few days ago, and now his minions have started legislating it. This is what we call “CCP speed.”
o The CCP attempts to divert the conflict and create internal disputes among the people (general public and food industry).