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2021-08-05 China-Japan-Koreas

China's war on big tech: Crackdown has wiped $1.2trillion off firms' value in six months - so is jealous Xi putting billionaires in their place, punishing Western influence, or something even MORE sinister?

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Posted by Skidmark 2021-08-05 07:02|| || Front Page|| [8 views ] Top
File under: Commies

#1 Rubio's chilling warning: China has weaponized US ‘corporate lust for profits'

Posted by Skidmark 2021-08-05 07:04|| 2021-08-05 07:04|| Front Page Top

#2 China warns gaming firms could lose tax breaks in latest threat to the multi-billion sector it is seeking to control

Posted by Skidmark 2021-08-05 07:47|| 2021-08-05 07:47|| Front Page Top

#3 Now do the same to the movie industry. Crush the American studios working with their Chinese counterparts into rubble.
Maybe they will also go after the RIAA. That would be nice.

Posted by Glinesing Hitler8140 2021-08-05 09:08|| 2021-08-05 09:08|| Front Page Top

#4 I had always heard that many of not most PRC companies were more or less owned by generals and CCP bigwigs. Two thoughts occur, neither of which is mutually exclusive:
1) Xi is crippling/punishing some internal opposition
2) Xi is crippling some companies that grew without the "proper" ownership.

Posted by Mercutio 2021-08-05 09:53|| 2021-08-05 09:53|| Front Page Top

#5 The Chinese government needs the money from the emerging tech investments to offset the giant hole in the banking sector caused by speculative loans on non existent assets. He's trying to release pressure on their investment bubble, while making sure that everyone understands that there's a pecking order.
I also think that they'd like to keep foreign money (and influence) out of their developing tech.

Posted by ed in texas 2021-08-05 10:30|| 2021-08-05 10:30|| Front Page Top

#6 Emperor killing his successful generals?

Posted by g(r)omgoru 2021-08-05 10:33|| 2021-08-05 10:33|| Front Page Top

#7 ed in Texas has the essence of it.
Banks are a huge huge bubble as bad for China as 2008 was for the world.

Posted by 3dc 2021-08-05 10:40|| 2021-08-05 10:40|| Front Page Top

#8 Also, 1-child for so long ruined China's age demographics - expect one worker to support 2 older people in just a few years.

This is another reason for stupid western firms to stay out of China development right now. If you want cheap workers go to some hell hole where they don't need to support massive numbers of older people.

Posted by 3dc 2021-08-05 10:43|| 2021-08-05 10:43|| Front Page Top

#9 Zero sympathy for Western investors who lost money on Chinese companies. They deserve it. They knew they were doing business with murderous commie bastards but the lure of profits was too much for them to resist. Too bad, morons.

Posted by Abu Uluque 2021-08-05 12:01|| 2021-08-05 12:01|| Front Page Top

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