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Like the EC, CHINA tightens political control of [domestic] internet giants
The party says anti-monopoly antitrust enforcement will be a priority through 2025. It says competition will help create jobs and raise living standards.
[...]
Products from China wouldn't function in the United States or Europe, and vice versa. Innovation and efficiency would suffer.
< wipes tears >
Alibaba said it will invest $28 billion to develop operating system software, processor chips and network technology. The company has pledged $1 billion to nurture 100,000 developers and tech startups over the next three years. Last year, Tencent promised to invest $70 billion in digital infrastructure. Meituan, an e-commerce, delivery and service platform, raised $10 billion to develop self-driving vehicles and robots.
[INCONTINENCE ALERT]
A law that takes effect Nov. 1 establishes security standards, prohibits companies from disclosing information without customer permission and tells them to limit how much they collect. Unlike data protection laws in Western countries, the Chinese rules say nothing about limiting government or ruling party access to personal information.
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Beijing is also using the crackdown to narrow China's politically sensitive wealth gap by pushing tech giants to share their wealth with employees and consumers.
Google seeks to overturn $5.1 bln EU fine
archived Eric Li in The Coming War Against China (Pilger, 2016)
by Cat on Mon Oct 4th, 2021 at 04:00:30 PM EST
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