Originally Posted by
juicykeyboard
Fair enough I see your point of view, profits were made, I should have been more clear with my language. This is just a too simplistic view if you ask me. In any case, it is the joint venture that is succeeding, the local Chinese company is the majority shareholder so you can't legitimately say the foreign company is succeeding at all. Being tolerated, most definitely, but once you factor in the forced transfer of IP (what is the worth of that? billions at the very least) succeeding not so much. But sure, in a simple minded way you can say well they made money so they succeeded I guess.
If I put a gun to your head and ask you to give me your wallet and smile while doing it you will. A passive observer might think that you were very happy with the deal you got. Considering the loss of IP I'd say there are exactly 0 foreign companies happy with the situation in China. But you gotta try at such a large market I guess.
Are they a wholly owned foreign enterprise now? No.
You seem to be glossing over the point that Jack Ma transferred ownership of Alipay from Alibaba to Ant Financial. He literally stole the company that is worth around $50 billion these days as far as I can tell.
If you were a shareholder in my company, and your share was worth $10 (you bought in at $1), then I decided to place the the profit making operations into a shell company, would you be happy now that you can still sell your share for $2? I mean it's a 100% profit increase. Well done you've succeeded. I'm sure you wouldn't try to sue me (oh wait you can't anyway, I'm in China).
Clearly you've got no idea about this stuff (probably not medicine either) so you should spare me and stick to whatever it is you know.