China has ordered Alibaba to pay a record fine of 18.2 billion yuan ($2.8 billion) after antitrust regulators concluded that the online shopping giant had been behaving like a monopoly.
Camarada Forte
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If you want your national economy to develop, prevent monopolies from reigning the economy is essential. Since monopolies have a control over the flow of certain commodities, they can naturally increase their prices without increasing their value, and therefore extracting juicy super surplus-value. It’s the same thing imperialist bourgeois do with oil

@yogthos@lemmygrad.ml
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I wish they’d just nationalize it already

Muad'Dibber
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They really should. So many people use alibaba and alipay. This might be the first steps.

@ksynwa@lemmygrad.ml
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Apparently digital RMB is being pushed because of Alipay and WeChat Pay dominating cashless transactions. So they at least have a plan of action.

that’d be amazing. It would be like if the US nationalized amazon.

That would also mean your purchases on aliexpress directly fund the CPC and that’s based

Muad'Dibber
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Sick.

@LivefromLangley@lemmygrad.ml
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deleted by creator

Subversivo
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The proletariat dictatorship under a market socialism depends upon the bourgeoisie does not transform their economic power in political power.

They are tacking Ma influence and Alibaba monopoly.

Is 2.8 billion dollars high as far as fines go? I’m trying to think of other times states hit companies with fines but can’t remember the amounts. What was the highest fine paid by a company to a government?

the EU fined Google for about 9 billion iirc, dunno what came of it

Muad'Dibber
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I found this: https://www.managementtoday.co.uk/biggest-corporate-fines-history-changed-business/reputation-matters/article/1585541

Which seems like some of the biggest fines in history are about 10x that. Still tho, you’ll hear about banks getting fined 100M USD which is basically a slap on the wrist. So 3B is probably pretty substantial.

@AgreeableLandscape
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Nice!

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