News Analysis China’s tech sector is becoming uninvestable for a host of reasons, not least that the Beijing regime hates capitalism. It’s a communist country and its leader, Xi Jinping, appears to be a true believer and on track to be emperor for life. CNBC’s “Mad Money” celebrity investor, Jim Cramer, put it in about these terms on Jan. 5, as news poured in of a major Chinese tech selloff. He called Xi a “totalitarian dictator.” Cramer said it’s “impossible” to advocate investing in Chinese stocks at any price point given a looming cold war, human rights abuse, and disregard for shareholders. “I think that President Xi has complete contempt for us, complete contempt for shareholders, and very contemptuous of rich people whom he thinks threaten his power,” said Cramer. On Tuesday, new regulations prompted a selloff of China’s tech industry, followed the next day by fines slapped on the country’s …
China Tech Crackdown Makes Beijing Loyalists Uncomfortable
January 7, 2022
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