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US lawmakers vote 50-0 to force sale of TikTok despite angry calls from users (arstechnica.com)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 33 points 8 months ago (9 children)

Is it a private business if it's owned by the Chinese government?

[–] [email protected] 7 points 8 months ago (7 children)

It's really not though? The Chinese government has a 1% stake in ByteDance. Meanwhile ~60% is foreign investors – believed to be mostly American.

[–] [email protected] 9 points 8 months ago (2 children)

You have a misunderstanding of how China's government operates. It does not matter how much stake the government holds, companies just cannot say no to the government's request. Otherwise you will be disappeared. See Alibaba for example.