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Big companies in the technology sector have come under an attack by the government in China. Perhaps this sequence of events is not surprising given the history of regulation in China. For bystanders, this looks like an experiment and a titanic battle between multinational corporations and government regulation. However, it would be an understatement to say that the impact was only limited to China. The fact is the ripple effect is felt around the globe. The measures are being implemented along different aspects of the business.
Key Takeaways:
- Chinese authorities have restricted children to three hours of video games per week and barred the use of crypto.
- China is trying to combat the wealth inequality that has arisen as its economy has grown.
- China’s new data privacy law applies to private companies, but not government entities.
“The world’s second-largest economy is now a real-life experiment in government clashes with Big Tech.”
More details: here
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