The U.S. Commerce Department has rescinded orders that placed ByteDance’s TikTok and Tencent’s WeChat on a prohibited transactions list, Reuters reported. The move comes after a similar order was rescinded earlier this month that revoked a series of Trump-era executive orders banning the two apps. The orders also would have prevented companies from doing business or routing transactions...
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Opinion Asia Policy
China’s Tech Crackdown Is a Geopolitical Play
It hardly bears repeating that 2021 was a rough year for China’s platform companies. The firehose of new regulations and rolling crackdowns on everything from data security to overseas listings cost Chinese shares—including those of Didi, Meituan, Pinduoduo, JD.com, Tencent, and ByteDance—42% of their cumulative value in the U.S. and Hong Kong. Not so long ago, China held up...
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