Sunday, June 15, 2025
  • Login
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
No Result
View All Result

China Retaliates, to Blacklist Foreign Companies

miraimaniar by miraimaniar
5 years ago
in Asia News
Photo by NII at Unsplash

Photo by NII at Unsplash

Trump’s attacks on China backfires. After accusing the United States’ ban on Chinese apps as “violation of the first amendment”, China is now preparing to blacklist several foreign companies operation. The realization of this plan may put global companies such as Apple, Qualcomm, and others in threat.

China is fed up: complaints filed, accuses the United States of First Amendment violation

The news of WeChat and TikTok operation restriction from yesterday seem to have cut China’s patience. Previously, TikTok and its parent company, ByteDance, has recently decided to join hands with Oracle. In the future, Oracle will take control of the application’s data management in the United States, which was the root of the whole fiasco. Despite the step taken by ByteDance, TikTok is still strictly restricted in the United States until further notice.

Upon the news, TikTok and ByteDance have reportedly filed a complaint on the mistreatment. According to Yahoo! Finance, both companies accused the ban as closely political-related, and thus, violated the company’s First Amendment rights. Both ByteDance and TikTok hope for a “declaratory judgment” and a reproach for the restriction of the app.

The American Civil Liberties Union (ACLU) supports the argument and further calls the scheme as a “selective ban”. Through ACLU’s series of tweets, the union argues the ban of the application may put harm on the privacy and security of millions of existing TikTok and WeChat users. Allowing software updates may instead fix vulnerabilities and the apps’ security. The union added that the ban violates the First Amendment rights to freely communicate and conduct important transactions on the mentioned apps.

RelatedArticle

GameStop Shares Surge Roaring $116 Million Position

Indonesia’s New Crypto Regulations: Impact on Local Exchanges

Global Cryptocurrency Tax: Policies and Practices

4 Reasons to Opt for a Local Forex Broker

Will China blacklist foreign companies in the future?

The piling anger from both country’s dispute finally explodes into a bigger problem. The New York Times reported China’s Ministry of Commerce published rules outlining “unreliable entities list” last Saturday. As of now, officials have not yet revealed specific companies or individuals included in the list yet. However, the publishing of the rule itself indicates China’s intention to limit, or even blacklist overseas entities from their operation and activity in China.

While the new rules might complicate a lot of corporations, the decision could be as harmful to China’s economy. China is known as the production industry due to the country’s capability to produce cheaper goods quickly and efficiently. Several companies that may be heavily affected by the rules are Apple and Tesla.

However, fewer companies involved with the country means less production too. Less production means less work for the citizens. Hence, it is a possibility that the country might suffer millions of unemployment cases if the rules apply, the New York Times suspects.

Read also: Trump Continues The Strikes on Chinese Apps

Follow and join us on Youtube, Instagram, Facebook, and Twitter to be part of the trader community in Asia

Tags: anti-Chinaban TIkTokboycott ChinachinaChina-USChina-US trade warTikTokTikTok BanTikTok USU.S. China BanU.S. China Trade warU.S.-ChinaUS-ChinaUS-China trade dealUS-China trade warwechatWeChat Pay
miraimaniar

miraimaniar

“You can make anything by writing.” ― C.S. Lewis

Related Posts

GameStop Shares Surge Roaring $116 Million Position

GameStop shares surge
by oney
October 30, 2024

In a dramatic turn of events, GameStop shares surged 80% following a significant reveal by the well-known trader Keith Gill,...

Read more

Indonesia’s New Crypto Regulations: Impact on Local Exchanges

Indonesia crypto regulations. Hedging strategies in Forex Trading. A bar chart with four sections of varying heights. The sections are labeled "23,150," "23,100," "23,050," and likely represent some kind of data or measurement. The title of the chart is most likely "23:150."
by oney
October 13, 2024

Overview of Indonesia's New Crypto Regulations Key Provisions The new regulations introduced by Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti)...

Read more

Global Cryptocurrency Tax: Policies and Practices

role of stablecoins in the crypto ecosystem, diversify your crypto portfolio, how to use a Forex economic calendar. Cryptocurrency Advertisement tax global
by oney
October 4, 2024

The cryptocurrency tax in South Korea South Korean government is setting new tax for cryptocurrency income this year. After Japan, the country...

Read more

4 Reasons to Opt for a Local Forex Broker

Forex Introducing Partner, local forex broker, building confidence as a forex trader
by oney
October 1, 2024

The election of Indonesia’s local forex broker or international forex broker is often confusing for traders. Both of them have...

Read more
Load More
Next Post
Photo by Lê Tân at Unsplash

Impact Investing: Balancing World and Money

Trending Issues

  • Marelli Holdings avoid bankruptcy

    Marelli Wins Consents to Avoid Bankruptcy

    0 shares
    Share 0 Tweet 0
  • 5 Facts in the Start-Up Drama Story (Part 2)

    0 shares
    Share 0 Tweet 0
  • Baidu, A Look At Chinese Version of Google

    0 shares
    Share 0 Tweet 0
  • This Person Suddenly Becomes Millionaire After Buying Dogecoin

    0 shares
    Share 0 Tweet 0
  • How to Make Money from the Clubhouse App

    0 shares
    Share 0 Tweet 0

Get the latest market news and trading tips to your inbox daily, subscribe now !

Topic

  • Asia News
  • Asia Trade
  • Bonus+Promotions
  • Broker News
  • Business News
  • Cryptocurrency
  • Currency Analysis
  • Finance News
  • Forex & Market
  • Forex Tips
  • Hot News
  • Investment Tips
  • Learn to Trade
  • Market Analysis
  • Politics Issue
  • Reviews
  • Social Media
  • Stock Analysis
  • Stock Market
  • Stock Trading Tips
  • Technical Analysis
  • Tips
  • trading strategy
Go Trading Asia

Go Trading Asia covers the latest in Business and Economic News and Market Analysis, with the aim of Providing Readers with the knowledge and tools to make better informed financial decisions.

  • Contact us
  • Privacy Policy
  • Disclaimer

© 2021 Go Trading Asia.

No Result
View All Result
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us

© 2021 Go Trading Asia.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In