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It's only okay when MY favorite country does it. (lemm.ee)
submitted 8 months ago by rickyrigatoni@lemm.ee to c/politicalmemes@lemmy.world
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[-] TempermentalAnomaly@lemmy.world 21 points 8 months ago

I wholly agree with you first paragraph.

But the 1% stake the Chinese government has in ByteDance is a golden share.

From The Economist:

More stunning are the terms of these investments. ciif’s 1% stake in a ByteDance subsidiary gives it the power to appoint one of three board members in a unit that holds key licences for operating its domestic short-video business.

To what extent the CCP will exert control or what ByteDance has agreed to is unclear. And who knows if any of that matters.

this post was submitted on 22 Mar 2024
1115 points (100.0% liked)

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