by Surprisingly muted to positive reaction from Wall Street. It's being recognized that tech and fintech will be regulated not only in China as the US considers anti-trust action. The reality is that the baseline business model needs regulation to avoid perverse incentives undesirable (intended) consequences — monopoly, privacy violation, and the like — that concentration involves, thereby generating asymmetry of power. Capitalism encourages economies of scale and the results in asymmetries arising unless either prevented from occurring (difficult) or regulated after the fact. China is getting out in front of this early, while the West struggles to play catchup after the horse has left the barn.Zero HedgeA Stunned Wall Street Responds To China's Droconian Didi Crackdown [sic]Tyler DurdenSee
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Surprisingly muted to positive reaction from Wall Street. It's being recognized that tech and fintech will be regulated not only in China as the US considers anti-trust action. The reality is that the baseline business model needs regulation to avoid perverse incentives undesirable (intended) consequences — monopoly, privacy violation, and the like — that concentration involves, thereby generating asymmetry of power. Capitalism encourages economies of scale and the results in asymmetries arising unless either prevented from occurring (difficult) or regulated after the fact. China is getting out in front of this early, while the West struggles to play catchup after the horse has left the barn.
Zero HedgeA Stunned Wall Street Responds To China's Droconian Didi Crackdown [sic]
Tyler Durden