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China's tech crackdown leads to huge losses; Citizen app controversy

Marietje Schaake, International Policy Director at Stanford's Cyber Policy Center, Eurasia Group senior advisor and former MEP, discusses trends in big tech, privacy protection and cyberspace:

How will China's tech crackdown affect the rest of the world?

Well, investors in the US, but also globally were not amused with Beijing's policy decisions coming right after DiDi's IPO and leading to huge losses. Overseas listings are now directly targeted in moves that are being defended as being based on national security, kind of sounds familiar, but the value of Chinese tech stock all over the world is dropping. But still, many continue to view the relationship between Chinese-based companies and the state as symbiotic. So if nothing else, recent moves certainly show that Chinese decision-makers want to keep their grip on anything that happens in the country, very firm.

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Why is China trying to game the gamers?

This week, the market value of Tencent, China's biggest video game company, nosedived after a state media outlet suggested that online gaming was as addictive and destructive as opium. Tencent immediately pledged to cap the number of hours people can play, and to keep minors off its platforms.

It's the latest example of a months-long crackdown on major Chinese technology firms that until recently were viewed as some of the world's most powerful and successful companies, as well as a source of national pride. Beijing's about-face on its own tech titans could have big implications for China, and beyond.

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