It is said that, as a condition of the IPO in US markets, Didi will give the US authority access to the user data Didi collects in China. This violates Chinese laws.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
Does the US ask for user data from other Chinese companies listed in the US?
It's best that you read this article to give you a much broader perspective and understanding as to why the Chinese government is necessitating this move for Didi and in a lot of ways it will also serve to answer your questions pertinent to this situation.
For further reading read this longer article from the same author:
China’s Attempt to Avoid the American Tech Monopoly Trap
by David P. Goldman
China's industrial profits sustain growth in first 10 months
Driven by soaring prices of means of production, the [mining and raw material manufacturing] industries saw profits increase by 2.81 times and 56.1 percent year on year last month, both significantly higher than the industrial average.Thanks to robust demands, the profit of the consumer goods manufacturing industry swung back to growth in October, increasing 3.6 percent year on year.
Besides, the high-tech manufacturing sector maintained rapid profit growth last month, rising 17.4 percent from a year earlier.
@siegecrossbow I genuinely believe he needs to sell off everything.
Leave him with a net worth of $100. Enough bowls of noodles for one month - if you stay in the poorer part of town
Time for him to start from scratch.
The CPC is going to make him sell his undewear as well. The guy is in big trouble
If Evergrande goes down with thousands of people losing their jobs and the economy getting damaged, he will 100% get executed.
The message is clear, sell everything you have to save the company, or you will lose your life.
Mind you, even with selling all his assets, it is not sure he will get away with it. He will most likely land in jail (at least he will be alive)
He's gonna have to sell his plasma and blood on a weekly basis too until the debt clears.
Maybe one of his kidneys and lungs too
for fuck's sake, you sound more and more like a CCP Gestapo, it's disgusting. who gave you the right to jail or excute anyone? you want to turn the country into a concentration camp just because you are a loser?
High levels of punishment, and even capital punishment, towards corrupt officials and executives is not something that's new to China, and is arguably something that a few other nations might benefit from.
That said, I think you are also implying that it is unreasonable to hold a high degree of contempt and lack of empathy towards executives who engage in wholesale irresponsible and risky business activities that may be systemically damaging.
And I don't think that is a sentiment which is exclusive to China.
So I think you are misfiring a little bit.