American Billionaire Charlie Munger, who has been Warren Buffet's business partner and friend for six decades, is openly calling for Chinese style communism in the USA. Charlie Munger said Jack Ma was arrogant to tell the Chinese government to let him operate his own business. We answer what is the real reason for China’s economic success and who is Jack Ma? Jack Ma was the richest man in China, he created Alibaba group in 1999. It's people like Jack Ma who are responsible for bringing China out of poverty, not the Communist Party. He was 14 when China started opening up their economy under Deng Xiaoping. His company ANT Group was scheduled to be IPOed in Nov 2020 and was expected to be the largest IPO in history. Jack Ma gave a speech at the 2020 Bund Financial Summit where he spoke freely, something Charlie Munger is not a fan of people doing. Ma was invited to meet with Chinese regulatory agencies then disappeared. He was missing for months. Deng Xiaoping brought economic freedom (capitalism) to China resulting in the massive growth of its economy. However China is turning further away from free markets. It is a term known as “late stage capitalism." The USA may be heading down the path of China and only you and I, we the people, can stop it.
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