This is a series,

This is CBS, I on the world.

I'm John Bachelor with Gordon Chang at Gordon G Chang,

and we're very pleased to welcome our colleague Andrew Collier, managing director Orient Capital

Research, author of China's Technology War, why Beijing took down its tech giants.

We moved immediately to tell an anecdote. Ten years ago, Andrew, a very good day to you.

Alibaba I peed in the 70s, went up 38% in the first day, raised $21 billion or more for its ownership, and climbed all the way

to 319 in the New York Stock Exchange during the pandemic of 2020, the unsolved pandemic. It is now back at 78. This is a

combination of Amazon and Google and Facebook and altogether. Does this tell us that the stock was always misrepresented

that China's economy has collapsed, that the consumers have another way of

buying things? What does this tell us about tech giants in China right now? Good evening to you

Andrew. Good evening. Actually Ali Baba is a wonderful company. Jack Maas

an entrepreneur who spoke English and was quite Westernized,

and built this company that was like, essentially like Amazon in many ways and became huge

because consumers in China wanted to buy things online just like they do in the United States.

However, the Chinese government was concerned about the size of the company and they claim it was because of it was

having a monopoly over online shipments but I suspect a lot of it had to do with

the fact that Jack Ma was getting too big for his

britches and he was becoming quite popular and was also very wealthy.

So a couple years ago, starting in 2020, they basically started attacking the tech sector.

And as a result, now the stock price of Alibaba and a lot of its revenues are much lower.

Part of that is due to a slumping economy in China, but certainly

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