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Agree with Wildreamz, the fact that banks uses Ant's credit score system and not other institution or the national rating agency shows how good a product they have created which is used. Banks are profit entities and they will use the service of the one which gives them the best interest income margin.
(2) the act of the Communist Party taking away/regulating a product once it is widely accepted by their country has frightened investors. So a lot of investors will be putting a premium on ventures creating new innovative products because once it goes mainstream, the CCP is going to step in.
This stifles innovation and hence to me, I view that China will have difficulty being a number 1 powerhouse due to this mentality. AWS, Microsoft all came about because they created products they were domineering. China at best will only be able to develop an existing "good" to better through incremental progress. However, it will never be a country creating a "good product", with such a mindset
(2) the act of the Communist Party taking away/regulating a product once it is widely accepted by their country has frightened investors. So a lot of investors will be putting a premium on ventures creating new innovative products because once it goes mainstream, the CCP is going to step in.
This stifles innovation and hence to me, I view that China will have difficulty being a number 1 powerhouse due to this mentality. AWS, Microsoft all came about because they created products they were domineering. China at best will only be able to develop an existing "good" to better through incremental progress. However, it will never be a country creating a "good product", with such a mindset