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Jack Ma slams Western economic models, says Europe over-regulated

Alibaba founder calls Africa a target for expansion

Businessman Jack Ma, right, and World Bank President Jim Yong Kim at the International Monetary Fund/World Bank annual meeting in Bali. (Photo by Simon Roughneen)

NUSA DUA, Indonesia -- Chinese billionaire businessman Jack Ma slammed Western economies as over-regulated during a frank exchange with World Bank chief Jim Yong Kim at a conference in Bali.

"In Europe they don't like me, in America they don't like me," Ma said, drawing laughter from an audience at the International Monetary Fund/World Bank annual meeting that included government representatives from around the world.

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