31 Aug International Financial Management
The founder of Chinese tech giant Alibaba has blasted financial regulation in China, saying it “missed the point on preventing systemic risks”. He also railed against the Basel Accords and said the international financial
regulation framework is not suitable for China. “Today the Basel regulations have put a big limit on innovation in Europe as a whole, for example in the digitalisation of finance,” Jack Ma, who controls Chinese fintech company
Ant Group, said on October 23, 2020.
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Discuss the above statement, clearly providing points from the Basel Accords and any other point that would further acknowledge the strength of the answer scheme. The answer scheme could also include circumstances or crisis that would add value.
