The ‘Civil’ Charlie Munger Applauds Chinese Authoritarianism, Faces Backlash

By Prashant Jha
July 3, 2021 Updated July 3, 2021
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Source: WSJ

Charlie Munger, Berkshire Hathaway vice chairman, sang praises for the Chinese government’s censorious act against Alibaba’s Jack Ma. Advised the US government to learn from and opt for China’s financial regulations. Ma’s sympathizers and the crypto community came together to shut down Munger’s mockery of Ma and the US government.

Both his past and present actions are taken into account to call out Munger for his lack of knowledge and empathy.

“Communists did the right thing,”, Munger told CNN

Munger is on the receiving end of social media trolling right now; not because the 97-year-old billionaire said something offensive and orthodox, but because of his double standards. Last year Munger criticized the Chinese regulators upon the unceremoniously halting Ant Group’s billion-dollar IPO project. He commented against the Chinese government for restricting innovation in the business sphere, which Munger believed is essential for a “civilization”.

However, Munger clarified how he would not want the US to adopt all Chinese policies, but it would not hurt America to have stricter financial regulation.

Crypto Community calls out Munger, again

After the 2018 roast of cryptocurrencies by Charlie Munger and Warren Buffett, the crypto community has not shown the duo any mercy in critiquing their every move. Munger, after comparing crypto to “dementia” in 2018, continued to disregard its existence as a threat to civilization referring to a lack of ethics and trust in the cryptosystem.

The crypto community looked enraged at Munger’s hypocrisy and pro-censorship stance on social media. The community anyway does not appreciate Munger’s supremacist attitude, but they completely condemned Munger’s move of advocating for China’s government and advising the US to take notes.

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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