Warren Buffett and Charlie Munger. SCOTT MORGAN/REUTERS
CNN: America can learn from Communist China, says Berkshire's Charlie Munger
New York (CNN Business)Berkshire Hathaway vice chairman Charlie Munger praised the Chinese government for silencing Alibaba's Jack Ma in a recent interview, adding that he wishes US financial regulators were more like those in China.
"Communists did the right thing," Munger, the 97-year-old longtime friend of Warren Buffett, said about the handling of Ma, who criticized officials in Beijing last year for stifling innovation.
The comments were included in a CNBC special about Buffett, Munger and Berkshire Hathaway (BRKB) that aired Tuesday night.
Ma has been largely out of the public eye since making those critiques. Meanwhile China's government also issued new regulations on Alibaba (BABA) affiliate Ant Financial that have forced the company to delay its eagerly awaited initial public offering.
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WNU Editor: It is at moments like this one that all that I can do is shake my head.
