The Alibaba affair

Alibaba is the world’s biggest e-commerce company and touches the lives of nearly everyone in China. Its founder is a flamboyant and outspoken billionaire, Jack Ma. However, Mr Ma’s been keeping a low profile since a clash with the Chinese government in 2020, when a plan to float Alibaba’s fintech operations on the stock exchange was suddenly halted by the authorities. Then, in the spring of 2021, regulators slapped Alibaba with a $2.8bn fine, saying it had abused its market position for year...