Technology

Blowback Time: China Says TikTok Deal Is A Model For How It Should Deal With US Companies In China

4 years ago

Anonymous $rxtAWepgzY

https://www.techdirt.com/articles/20200921/12021445348/blowback-time-china-says-tiktok-deal-is-model-how-it-should-deal-with-us-companies-china.shtml

We've already covered what a ridiculous, pathetic grift the Oracle/TikTok deal was. Despite it being premised on a "national security threat" from China, because the app might share some data (all of which is easily buyable from data brokers) with Chinese officials, the final deal cured none of that, left the Chinese firm ByteDance with 80% ownership of TikTok, and gave Trump supporters at Oracle a fat contract -- and allowed Trump to pretend he did something.
Of course, what he really did was hand China a huge gift. In response to the deal, state media in China is now highlighting how the Chinese government can use this deal as a model for the Chinese to force the restructuring of US tech companies, and force the data to be controlled by local companies in China. This is from the editor-in-chief of The Global Times, a Chinese, state-sponsored newspaper:

Blowback Time: China Says TikTok Deal Is A Model For How It Should Deal With US Companies In China

Sep 22, 2020, 5:25pm UTC

$rxtAWepgzY

https://www.techdirt.com/articles/20200921/12021445348/blowback-time-china-says-tiktok-deal-is-model-how-it-should-deal-with-us-companies-china.shtml > We've already covered what a ridiculous, pathetic grift the Oracle/TikTok deal was. Despite it being premised on a "national security threat" from China, because the app might share some data (all of which is easily buyable from data brokers) with Chinese officials, the final deal cured none of that, left the Chinese firm ByteDance with 80% ownership of TikTok, and gave Trump supporters at Oracle a fat contract -- and allowed Trump to pretend he did something. > Of course, what he really did was hand China a huge gift. In response to the deal, state media in China is now highlighting how the Chinese government can use this deal as a model for the Chinese to force the restructuring of US tech companies, and force the data to be controlled by local companies in China. This is from the editor-in-chief of The Global Times, a Chinese, state-sponsored newspaper: