A couple days ago I talked about Jack Ma and his Ant Group IPO. In my comments I discussed how Acemoglu and Robinson's theory argued that innovators like Jack Ma would not be allowed to operate in an environment of extractive political institutions. Well, it didn't take long for China to support the theory as it has blocked the IPO. See the following articles
CNN Business: Beijing just yanked Ant Group's IPO to show Jack Ma who's really in charge
Yahoo! Finance: Derailing of Jack Ma’s Ant IPO Shows Xi Jinping’s in Charge
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