This is a bad deal. It sets a precedent where other countries can strong arm Chinese companies into similar deals in the name of “national security”. On top of this, Bytedance must pay $5B.
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News on China's scientific and technological development.
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Not exactly, China also forces many US companies to have a Chinese partner in order to operate there. In some cases, US companies must create joint ventures with Chinese partner in majority control. Its just US showing its true colors and accepting the Chinese policy as its own policy to deal with Chinese companies.
As long as Chinese companies are not forced to sell, US making them create JV or US partner is okay.
The lack of response from Beijing is worrisome. Only talk no action when it comes to defending interest of Chinese companies. Spineless.
China does not force existing US companies that have an established business in China to divest, and take on chinese partners where all data, source code are all controlled by China. Oh, on top of that China does not ask for billions in extortion money for “allowing” a deal like this to happen.
Please just block this deal and let Ticktok die.
Just curious, could you suggest what plan of action Beijing should take to this joint venture after the fact?
If you are upset about the $5 billion to BLM education, TikTok will make far more that $5 billion off the Americans in the US dance market.
It's Sunday no worries, also there must be a committee there who discuss this issue before making a decision.. but it looks like China will block it.
That is business. That is capitalism.
This is not about moral stories. This is about how to make money.
Lol this is not about business or capitalism. Let’s be clear about that. After this deal Bytedance might still get sanctioned. WeChat, DJI, Alibaba, Tencent’s gaming business in the US are still on the hit list. Ticktock deal bought you zero leverage or favors with the US government except signs of weakness.
People like to have nice and efficient cell phones, computers, chips for practically everything like fighter jets, rockets, ai cars,etc. Its like saying you can survive eating bean and rice for 80 years, but do you really want to?