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It's only okay when MY favorite country does it. (lemm.ee)

submitted 7 months ago by [email protected] to c/[email protected]

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[–] [email protected] 21 points 7 months ago

I wholly agree with you first paragraph.

But the 1% stake the Chinese government has in ByteDance is a golden share.

From The Economist:

More stunning are the terms of these investments. ciif’s 1% stake in a ByteDance subsidiary gives it the power to appoint one of three board members in a unit that holds key licences for operating its domestic short-video business.

To what extent the CCP will exert control or what ByteDance has agreed to is unclear. And who knows if any of that matters.