Now, the state of Evergrande’s soccer group offers a parable for its broader decline. Each Xu and Jack Ma, the founding father of tech big Alibaba, which purchased 50 % of the membership in 2014, at the moment are seemingly persona non grata in Xi’s China. The group itself has been renamed Guangzhou F.C. as a part of a nationwide mandate by authorities to make use of “impartial names,” anddistance Chinese language soccer from the excesses and vainness of those tycoon house owners. Unsurprisingly, the membership’s competitiveness on the continental stage has diminished.
https://www.washingtonpost.com/world/2021/09/29/before-china-evergrande-neared-collapse-its-soccer-team-chased-global-glory/?utm_source=rss&utm_medium=referral&utm_campaign=wp_world | Earlier than China Evergrande neared collapse, its soccer group chased international glory