Russo says tech crackdown could be good for China

Carrie LaFrenzSenior reporter

Updated Sep 3, 2021 – 3.01pm, first published at 11.27am

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One of investment legend Warren Buffett’s strongest supporters over the past 40 years has offered a rare Western defence of Chinese President Xi Jinping’s widely criticised crackdown on his country’s unruly tech giants.

In a newsletter to clients obtained by The Australian Financial Review, US investor Tom Russo says although Mr Xi’s attack on big tech is dictatorial, it is also a “disinfectant” the sector needs.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.