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The next round of competition is set in motion by Chinese and American technical interventions

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News Tech: Global Affairs Project explores the increasingly intertwined relationship between the tech sector and global politics. This is his first of two articles comparing the impact of technology crackdowns in the US and China. This article by Special Series Editor Scott Bade examines the geopolitical implications of each country’s approach. Nathan Picarsic and Emily de La Bruyère examine how China’s “tech rush” is driven by domestic politics.

Tencent has since been fined numerous fines for antitrust violations. Since last year, both companies have lost about 20% of their respective values, making him over $300 billion in total. Meanwhile, Didi Chuxing’s stock price fell 40% after receiving orders from domestic app stores. Recently, Chinese regulators imposed new restrictions on educational technology and gaming, banning cryptocurrencies altogether.

Now is not the right time to be a tech giant. In China, high-profile tech companies were once among the few that were able to operate relatively independently. Technology he leaders such as Alibaba’s Jack Ma and Didi’s Jean Liu have become mainstays of the Davos conference and global symbols of Chinese innovation. After Ma delivered a critical speech to Chinese regulators last year, his company’s record-breaking IPO was put on hold and he effectively “disappeared” for months.

America’s tech moguls may have freedom, but they and their companies are also under government scrutiny. Major antitrust supporters such as Lina Khan, Tim Woo, and Jonathan Cantor have all held senior positions in the Biden administration. Meanwhile, Congress is considering new laws to regulate technology on issues ranging from privacy to age limits. In both Beijing and Washington (not to mention Brussels, which has battled tech giants for years), the consensus is becoming clearer and clearer.

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