US President Donald Trump is using the same arguments he used to limit the action of Chinese company Huawei (telecommunications, 5G) and ZTE (high-tech mobile telephony) in the US market. Another Chinese company-social networking platform with video programs-in turn is accused by the US President of spying on US businesses and the country’s telecommunications.
According the words of the American President this is achieved through their software which cannot be detected, despite the relevant investigations that have been carried out whose results do not support what the American President has said.
By T.C.
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The indictments are directed against WeChat, a social contact application of Chinese interests firm Tencent, and Tik Tok, which posts user videos and is owned by the also Chinese interest company Byte Dance.
These companies are now accused of having created digital libraries with hundreds of thousands of folders with personal data that in the future may be used by the right persons for industrial and/or commercial espionage.
At the same time, the American President invoking the law of the U.S. Constitution that gives him the right to impose restrictions on any companies he deems to pose a risk to the security of the country recommends that Chinese companies listed on the U.S. Stock Exchanges voluntarily withdraw from them, unless they hand over to the U.S. Regulators their accounts and data held by their accountants.
This pressing policy is since the US wants to cut off once and for all the ability of Chinese multinationals to raise money from the capital markets of the US and the West in general. In addition, this comes because of the withdrawal of Western companies from Hong Kong due to Beijing’s security law. Nor will the Hong Kong Stock Exchange be able to acquire foreign capital from Chinese companies (funds only from domestic (China) investors).
In fact, the effort is being made to gradually lead to a gradual economic and commercial decline in Chinese multinational companies due to the inability to acquire capital from abroad which will steadily lead them to limit their expansion abroad.
At the same time, however, Microsoft intends to acquire Tik Tok. Apparently, Microsoft founder Bill Gates continues his informal opposition to the Trump policy and given that Bill Gates and George Soros are the strongest opponents against the Trump policy.
Another episode of the US-China trade war appears to dominate the US political scene, turning American public attention away from the pressing problems of his daily life. Which trade war will continue at least until the American elections.
