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Charlie Munger Faces Backlash For Praising Chinese Rule

Charlie Munger Faces Backlash For Praising Chinese Rule
  • Charlie Munger, Berkshire Hathaway Vice Chairman praised Chinese repression.
  • Particularly, Munger praised how the China silenced Alibaba’s Jack Ma.
  • Also, Munger wishes US regulators could follow in China’s footsteps.

Berkshire Hathaway Vice Chairman, Charlie Munger is facing criticism for praising Chinese censorship. Specifically, Munger spoke in favor of China’s stance towards Alibaba’s Jack Ma. Also, Munger added that the US government should learn from China.

Notably, the Berkshire Hathaway executive made the comments in a recent interview with CNBC. Munger attended the interview with long time friend Warren Buffet. Notably, Warren and Munger have been friends for over 60 years and currently co-lead Berkshire Hathaway.

To clarify, Berkshire Hathaway is an American multinational conglomerate. The company owns companies like GEICO, Duracell, Dairy Queen, and BNSF, to name a few. In addition, Berkshire Hathaway has recorded an average of about 19% book value growth since 1965. The company is lead by billionaire and investment guru Warren Buffet.

Munger is both outspoken and blunt. In fact, he has previously stated, “Bitcoin is worthless, artificial gold.” However, in this case, Munger agreed with the Chinese government silencing Jack Ma. Ma has spoken out against the Chinese government’s authoritarianism claiming it stifles innovation.

In addition, China has halted Alibaba affiliated Ant Group’s IPO. A move Munger also praised claiming that Ma wanted to “wade into banking … and just do whatever he pleased.”

Meanwhile, Jack Ma has been missing from the public eye for a while, a situation Munger called amusing. Munger’s comments earned him the ire of many Twitter users and the crypto community in particular.

Despite Munger’s comments Berkshire Hathaway recently invested $500 million into a pro-bitcoin bank, Nubank.

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Avid reader and writer with a passion for sharing crypto news and trends. Uses her background in finance to help readers better understand the crypto market and investments. Hopes to see mainstream crypto adoption in the near future, especially in Africa.