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Alibaba co-founder Jack Ma was, in effect, driven out of Ant Group, the financial company he spent his life building. The era of President Xi Jinping is drastically different from his predecessors'. (Nikkei montage/Reuters/Ken Kobayashi)
China up close

Analysis: Jack Ma downfall spells end of China's golden age

Alibaba founder was blown off the scene like a cloud in the sky

KATSUJI NAKAZAWA, Nikkei senior staff writer | China

Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

China's meager 3% growth for 2022 signals the end of a three-decade-long golden age for the country's economy.

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