Munger, vice president of Berkshire Hathaway, who was a guest with the US president at the CNBC Lounge, bluntly praised the Chinese approach to Alibaba and Fintech, as well as American-style replicas. In a few weeks Puppet took off Apple and focused on Chinese electric car manufacturers
At home Warren Buffett Are you cheering China on? Of course. At Berkshire Hathaway, a legendary company founded by the seventh richest man in the world, the 90-year-old with a personal fortune of $ 96 billion has a soft spot for Beijing’s methods. In Berkshire, with a portfolio ranging from Dragon’s electricity to a profitable stake in Apple, they applaud Fintech’s systematic demolition by the Communist Party of China, which is now 100 years old (without diseases and problems, Deepens here of Formiche.net).
Charlie Munger, Berkshire Hathaway’s vice president, praised the Chinese government for silencing Jack Ma and his Alibaba, guilty of violating the regime from the monopoly of loans and payments, which could escalate to entry level. The edge of the dragon.
“The Communists did the right thing,” said Munger, a 97-year-old longtime friend of Warren Buffett, who spoke about China’s attitude toward Alibaba and its subsidiaries, regardless of Tencent & Co. “China called Jack Dough and said you won’t, son. They did well because Ma wanted to do only what he wanted. ” Then, the most sensational approval, a few meters away from Buffett, during a special event cnbc. “I would definitely like to have a part of the Chinese system in the United States, at least financially. Our wonderful free institutional economy allows all these madmen to be harmed. Chinese preventive intervention is an example to stop all kinds of speculation.”
Buffett’s right hand was not sent to tell them, viz. China’s approach to the current health crisis is to be applauded. “As a dictatorial government, China has the luxury of closing the country for six weeks in response to the Govt-19 epidemic. It turned out to be the right thing to do.” Strictly speaking, this is not the first time Munger has praised China this year.
Speaking at Berkshire’s annual shareholders’ meeting in early May, Munger said, “The Chinese government is rapidly lifting 800 million people out of poverty, allowing businesses to thrive. There has never been such a thing in the history of the world. ” However, according to a recent letter to Berkshire’s shareholders, Buffett also has his own feelings about China. This illustrates how Tycoon Holdings has a larger stake in Chinese electric car maker BYD than it did at General Motors.
A few days ago Apple announced the release of its portfolio from shares in the first quarter of 2021. Berkshire held about 1 billion Apple shares at the end of the second quarter of 2020, but that level was less than 900 million. Today. In the end, America first, Not even.