Question: please share reference link also. 2) Last October, Ant Group was poised to launch a record- setting $34 billion initial public offering. But the Chinese

please share reference link also.

2) Last October, Ant Group was poised to launch a record- setting $34 billion initial public offering. But the Chinese authorities abruptly halted it, in what was portrayed as a prudent attempt to limit the company's exorbitant market power. The decision to block the IPO reportedly came directly from President Xi Jinping. Now it appears that Xi's government wants Ant Group to abandon financial services altogether and to confine itself to payment processing. I) As an analyst, search online and try to find the inherent reason behind this. After your analysis, discuss: Between Individualism and Collectivism, within which system this situation resonates most with? State your reasoning and based on how this event unfolded, what courses of action will you suggest to your clients who might be interested to explore Chinese financial markets? (Word: 1000, marks: 20)

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