If there is anything that China has not been successful in doing, in the past decade, it’s perhaps expanding its fortunes in the tech industry to a far-reaching international level. As the regime’s attempts to censor and obliterate the presence of any foreign corporation and their services have been fruitful to them, to say the least, from Baidu, as an alternative to Google to WeChat, as the only available option to the forced absence of WhatsApp, China has done almost everything possible, to socially and politically isolate its people from the real world, and more importantly, economically helping its own homegrown entities.
China To Drown In Its Own Losses
China was trying to create an impact on the technology market. Using its rather popular applications, such as WeChat and TikTok. India’s blanket ban on almost 5 dozen applications. Including that of TikTok and WeChat and wiping their presence out of the Indian market in the process. It has dented the prospects that china had in its hand, had it not been for this to happen.
The likes of Alibaba and Tencent two of the leading tech companies in China. Are starting to feel the pinch now. TikTok, for instance, which was, by many rooted as a possible alternative to the American Internet giant YouTube. As a matter of fact, remains to be banned in China. And has been caught off guard in this bargain of bullet and bans. TikTok, within a year or so, was planning to go public by offering its first, IPO, initial public offering. In the near future which will definitely have a tough time raising its stakes and its value. In the absence of a market as big as India.
Apart from that this grounds on which the Indian government has banned these applications, would also act as a reason to instill fear in the minds users and authorities in other countries, as now, its the question of the Chinese finding conducive path to virtually snoop on a huge number of people with these applications
The Chinese Government, in a rather unprecedented move. The spokesperson of the Ministry of Foreign Affairs has come out and criticized the Indian decision. Supporting the said Chinese countries.
Nevertheless, one can only hope, that this doesn’t turn into another bilateral or multilateral trade war.
