Wednesday, August 25, 2021

China: a pre-emptive attack by the regime against technology companies

Regulatory moves on behalf of authorities belonging to the Asian giant aim to substantially increase the control of activities of the firms in the sector, whose behavior was considered "abusive" or "monopolistic."

After spending years helping private technology companies grow to the point of becoming major global players, the Chinese regime resolved to settle accounts with the monsters it created because they were creating problems within its own territory. The coup has meant a destruction of 1.2 trillion dollars in all the markets in which these firms are present, according to a calculation of the investment bank Goldman Sachs. And the account continues growing.

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