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Monday.com. This is John Batchel, a conversation with the author and colleague, Andrew Collier,

his book, China's Technology War, Why Beijing

Took Down Its Tech Giants.

Andrew publishes in 2022.

It is helpful to look at what happened afterwards here to 2025, of what he analyzed in 22

is all here.

The big day was a decision by the man Jack Ma, who had Alibaba,

to make a speech that was candid to the leadership of the Chinese Communist Party

saying that they were out of step.

They were like a pawn shop.

Immediately after that, he was castigated, and China's technology sector plunged more than a trillion dollars.

Andrew explains why and how, still not recovered.

This is deliberate ideological imperative impressed upon a market that was growing

and prosperous and successful. More of this later tonight. Andrew Collier.

Well, the market cap for the total market capitalization for the Chinese Internet companies went from two and a half trillion U.S. dollars at its peak in 2020 to 1.4 trillion. So it was a loss of over a trillion dollars in market cap. Investment in the industry fell 80% following this whole fiasco. I'm not sure that Wang Hu Ning really cares about private capital

because he probably sees as a threat to the Communist Party. And a lot of the argument that's made

...