Kevin Rudd
speaker
641 appearances
1 recordings
1 series
first heard Jul 2026
last heard 14 Jul
Kevin Rudd’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
But the bottom line is this.
Jack became adulated across China as the symbol of this new entrepreneurial class.
That is, this poor boy from nowhere could build up this extraordinary firm to become world-leading.
But in the party's view, and in Xi Jinping's view, he became bigger than the party.
Where all this came to a head was a number of years ago at what's called the Bund Conference in Shanghai, which is an annual conference.
Jack decided to publicly attack the party's financial management policies and how constricting it was on the
new forms of innovation in the Chinese financial services sector where Ant Financial, one of Jack's subsidiaries, would be a major participant.
Xi Jinping just cracked right down.
And not just on him, but what was then called the collectivity of the platform companies.
And that included others, including Tencent and a number of other firms.
And then there began a series of, quote, anti-monopoly or anti-trust moves against the size which these companies had reached.
And then that spilled over into a broader campaign against, shall we say, the excessive display of private wealth, private influence, ostentation, and the private sector writ large.
And that led to a further campaign to implant party secretaries in each of these private firms.
And to say to these private firms, by the way,
we think it's a good idea under a mixed economy model that the state begins to take equity in your companies.
So needless to say, this didn't lead to a set of happy campers amongst the Chinese private sector.
And as a result of that, you began to see not only this trend that I
figures for private domestic consumption, consumers driving the future of growth, but private fixed capital investment also began to slide as well.
Both these things created a dilemma for the party's overall growth discipline, you correctly said before.
The unofficial social contract used to be 8% growth, it then became 6% growth.
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