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TikTok will not be sold, Chinese parent ByteDance tells US (www.bbc.com)

submitted 7 months ago by NightOwl@lemmy.ca to c/worldnews@lemmy.ml

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[-] freagle@lemmygrad.ml 11 points 7 months ago

There's literally no reason to retaliate using state actors for this. It won't fix the economics, it won't fix the power balance.

The retaliation is when the US sets precedent in international economic relations and China uses it to cut off American tech companies from the Chinese market which is a massive revenue source for them. If China announced anything like that, it would kill the tech stocks future projections because all that growth that US tech was banking on would disappear.

[-] protist@mander.xyz 3 points 7 months ago

US tech companies betting on China to sustain their growth are foolish. China doesn't need an excuse to favor its internal tech companies over external ones. It already does favor its own tech companies, and its own industries across any sector in which it can compete. China has already crippled US tech company growth within their borders. Any "retaliation" here is just spin, they are doing it anyway.