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submitted 7 months ago by Assian_Candor@hexbear.net to c/news@hexbear.net
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[-] zed_proclaimer@hexbear.net 142 points 7 months ago

Good. China should also retaliate and start forcing American companies in China to hand over ownership

[-] AcidLeaves@hexbear.net 51 points 7 months ago

They already do....

Almost everything foreign in China is 51% state owned. McDonald's franchises, Costcos, Gucci stores, etc.

[-] zed_proclaimer@hexbear.net 93 points 7 months ago* (last edited 7 months ago)

Those places entered into China while agreeing to those restrictions. That’s different than the US allowing foreign investment then rugpulling it and stealing the Chinese owned portion of a business after the fact.

In order to retaliate, China needs to seize or steal American capital.

[-] sooper_dooper_roofer@hexbear.net 20 points 7 months ago

In addition to that:

60% of ownership is by global hedge funds

so effectively half of bytedance is owned by westoids anyway

[-] redtea@lemmygrad.ml 12 points 7 months ago

Might depend on whether that 60% has voting rights.

[-] AcidLeaves@hexbear.net 20 points 7 months ago

CPC has something called a golden share in a lot of companies. It's a 1% equity stake that allows for overruling voting power in certain elections

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this post was submitted on 25 Apr 2024
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