In response to the U.S. House bill to force a sale of TikTok, the Chinese-owned social media platform, Donald Trump said, in an interview, “Without TikTok, you can make Facebook bigger, and I consider Facebook to be an enemy of the people.” In his latest comments, Trump reversed his position from 2020, when, as president, … Read more
If some U.S. lawmakers have their way, the United States and China could end up with something in common: TikTok might not be available in either country. The House on Wednesday approved a bill requiring the Beijing-based company ByteDance to sell its subsidiary, TikTok, or face a nationwide ban. It’s unclear if the bill will … Read more
Amid an economic slowdown, “involution” has become a buzzword in China, poignantly capturing the essence of the highly competitive and stressful socioeconomic climate within its domestic market. This term conveys intense internal competition and diminishing returns despite increasing efforts, both trends that are particularly evident in the technology sector. In response to this challenging environment, … Read more
Advertisement As China modernizes, one of the constant fears of the country’s leadership and academia has been the middle income trap. Originally introduced by World Bank economists Indermit Gill and Homi Kharas, this trap occurs when a country’s income rises to the point where its labor costs make exports uncompetitive when compared to low income … Read more
Pacific Money | Economy | Southeast Asia The move came after the Indonesian government announced an immediate ban on commerce transactions on social media platforms. Advertisement TikTok has halted its online retail operation in Indonesia in order to comply with the country’s recent decision to ban e-commerce transactions on social media platforms. In a statement yesterday, the Chinese-owned video-sharing … Read more
Advertisement On Wednesday, Indonesia’s Trade Minister Zulkifli Hasan announced that the country was banning e-commerce transactions on social media networks, dealing a major blow to the regional plans of the Chinese firm TikTok. According to a Reuters report, Zulkifli told a news conference that the regulation is intended to protect offline merchants and marketplaces. He … Read more
Advertisement A former executive at ByteDance, the Chinese company that owns the popular short-video app TikTok, says in a legal filing that some members of the ruling Communist Party used data held by the company to identify and locate protesters in Hong Kong. Yintao Yu, formerly head of engineering for ByteDance in the United States, … Read more