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