What’s Behind China’s Crackdown on Big Tech?
Both China and the U.S. are treating big tech with a heavy hand, but under different motivationsIn a previous article I looked at Chinese regulators’ crackdown on Didi Global, China’s ride-hailing service. Didi is one of several Chinese tech giants that have been tamed in the past nine months. Prior to Didi, Ant Group, Tencent, Meituan, and Pinduoduo were all quelled by regulators. After Didi, regulators targeted Full Truck Alliance and Kanzhun. They recently shut down online for-profit tutoring and have banned mining cryptocurrencies in China. Thus far, the Chinese government’s actions have resulted in almost $1 trillion net losses for the Chinese tech sector. The two big questions are, Why now? and, relatedly, Who’s next? SupChina has a well-organized explainer on China’s Big Tech Crackdown here. Another helpful resource is this video from DW, “How China is tightening control of its tech companies”: According to SupChina, China’s Read More ›
