News Snapshot:
“… Ant’s businesses are very complex. It isn’t easy to understand them. You can’t get a full picture from either a financial or a technological perspective… †– a Sanford Bernstein Analyst (quoted in The Wall Street Journal ) Various concerns and provocations led to the cancellation of the Ant Group’s public offering – “the biggest IPO in history†– but the root cause is the perception of a dangerous accumulation of systemic financial risk spewing out from Ant’s business model. It exposes the broader Chinese financial system to potential instability, even crisis. It is a familiar scenario. As the...
