Is China Poised to Nationalize Alibaba?

The International Business Times reports China might nationalize Alibaba. Here’s what that has to do with China’s digital currency efforts.

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The International Business Times reports China might nationalize Alibaba. Here’s what that has to do with China’s digital currency efforts.

This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.

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Today on the Brief:

Whales accumulated during yesterday’s crash
Kentucky legislators introduce bill to attract crypto miners
UBS lowers the threshold for charging savers because of negative interest rates

Our main discussion: What China’s prospective nationalization of Alibaba has to do with the nation’s digital currency efforts.

In this episode, NLW:

Gives a background on China’s digital currency project
Discusses why the DCEP is motivated by a larger attempt to internationalize the RMB
Background on Alipay, Ant Financial and Alibaba
How Alibaba founder Jack Ma annoyed the CCP and why he hasn’t been seen publicly in two months

Image credit: Wang HE/Getty Images News

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.