This is partly why markets have been "opening up" to foreign funds—& why I believe the China Inc story needs foreign investors funding China internet (Ali, JD, etc al) so they can in turn bail out SOEs.
You will see Alibaba and others buying curious companies and wondering why.
You can follow @wolfejosh.
Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.
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