U.S. investors and companies need to learn a lesson from Beijing’s recent crackdown on Chinese tech companies, warned Riley Walter, deputy director of the Japan Chair at the Washington-based think tank Hudson Institute. “Beijing doesn’t want these tech companies’ power to rival that of their own,” Walter said in a recent interview with NTD, an affiliate of The Epoch Times. Additionally, he said the communist regime was reminding these companies, even if they go list on overseas stock exchanges, Beijing would still be their “sole regulator.” “For Beijing, no one comes before the [Chinese Communist] Party in China,” he added. Chinese e-commerce giant Alibaba is one of the companies on the receiving end of China’s regulatory crackdown. In April, Alibaba was slapped with a fine of $2.8 billion for anti-competitive tactics. In the same month, Chinese regulators demanded Alibaba’s subsidiary, Ant Group, to undergo major restructuring, five months after the …
China’s Crackdown on Tech Companies Should Be a Warning Taken Seriously: Expert
August 12, 2021
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