Global Times editorial: no to tiktok

 Global Times editorial: no to tiktok

It can not be said that these Provisions fully demonstrate the bullying and bandit logic of Washington, while harming Chinas national security, interests and dignity. Byte skipping is an ordinary commercial company in China. The United States uses state power to suppress it and force it to sign an alliance under the city. However, as a country, and also a big country, China will not yield to us intimidation and accept an unequal treaty against Chinese enterprises.

Trump, in agreeing to the byte jump agreement with Oracle and Wal Mart, said the company will have nothing to do with China and is completely controlled by American companies. He said on the 21st that Oracle and Wal Mart must have full control over tiktok, or they will not approve the deal. It seems that this is not the language of his campaign. This is the real goal of his government to restructure tiktok. Washington is obviously too confident. They underestimate Chinas determination to defend its basic rights and dignity.

The United States is a big market. If tiktoks restructuring under the control of the US side becomes a template, it means that once every successful Chinese enterprise goes to the United States for development, and once they have their own core competitiveness, they will be targeted by the United States. They will turn them into companies under the control of the US side by taking advantage of their advantages, and the markets opened by those companies in the world will be implanted into the interests of the United States The direction of.

If China succumbs like this, which country in the world can resist? The hunting of tiktok by the United States and the global pursuit of Huawei are destroying the hope that high-tech companies from all over the world have world-class technology and develop independently. Once successful, the United States will be able to enjoy the global scientific and technological hegemony forever, and thoroughly regularize this hegemony and enjoy the success from then on.

China will not accept the bullying arrangement of the US side. This is a discriminatory squeeze against tiktok. Today, countries all over the world are worried about network data security. Today, American Internet giants have set up branches all over the world. Which one of them has given its control to the enterprises in the host country and whose board members should be approved by the government of the host country?

We want to say to the United States that Washington is hunting tiktok, which is digging a hole in the world for American Internet companies. As network security is becoming more and more popular, effective imitators around the world will take actions against American companies, and the bad precedent set by the United States will eventually bite back on American companies.

Global Internet data security should be solved in a fair, reasonable and effective way. China has put forward eight proposals. The United States highlights its own interests in a hegemonic way and even maintains its hegemony in science and technology in the name of network security, which can not be accepted by the international community including China. It is hoped that the US side will return to the reality of globalization from the cloud of US priority and return to the universal commercial value of self-interest and people.

Related reading:

Byte jump and Oracle statement conflict, tiktok transaction variables

On the terms of the tiktok deal, byte jump and Oracle made contradictory statements on Monday, raising doubts about the future of the deal.

According to previous media reports, byte hop and Oracle have reached a tiktok deal with the White House, which will make trump give up closing tiktok and avoid alienating young user voters before the US election on November 3. Tiktok already has 100 million users in the United States.

The newly founded tiktok global is a 100% owned subsidiary of byte jump, which is headquartered in the United States, according to a statement on Monday. Tiktokglobal plans to launch a financing before IPO, after which tiktokglobal will become a holding subsidiary with 80% shareholding of byteco.

Tiktok global is reported to be 12.5% owned by Oracle and 7.5% owned by Wal Mart after the financing was launched. But the two US companies said on Saturday that a majority stake in tiktok would be in American hands. On Monday, Oracle also said that byte hops stake in tiktok would be allocated to byte jitter investors, while byte hop would not hold a stake in tiktok global.

In response to conflicting claims about the tiktok deal, President trump said in an interview with Fox News on Monday that he would not approve the deal with Oracle and Wal Mart if byte hop maintained control of tiktok global.

The Global Times editorial said, from the information given by the United States, the agreement is obviously unfair, which unilaterally caters to the unreasonable demands of Washington. It is very difficult for us to believe that Beijing can approve this agreement.

The tiktok global corporate governance arrangements disclosed by both sides did not give full control to Oracle and Wal Mart. The board of directors of tiktok global is made up of five people. Doug mcmillon, Wal Marts chief executive, will be one of them. Other directors include Zhang Yiming, founder of byte jump, and heads of two top investors, general Atlantic and Sequoia Capital. One of the directors has not yet been nominated.

Byte skipping on Monday said, the current scheme does not involve any transfer of algorithms and technologies. Oracle has security checks on TikTok US source code. Displaying source code is a common solution for multinational enterprises to encounter local data security concerns. In 2016, Microsoft set up a technology transparency center in Beijing. Chinese technical experts can check the source code of Microsoft products and services and test their security. In 2019, Cisco opened a technical verification service center in Bonn, Germany, to publicly verify the compliance of its 5g source code to the Federal Information Security Agency of Germany.

However, Oracle and Wal Mart said on Monday that all of tiktoks technologies would be transferred to tiktok global.

The US Council on foreign investment (CFIUS) has been overseeing negotiations on the deal.

According to people familiar with the matter, US investors own 41% of byte jump, so TikTok Globals majority stake is actually owned by US investors through indirect calculation of ownership. People familiar with the matter also said that byte hoppings current trading plan with Oracle and Wal Mart has valued tiktok global at more than $50 billion.

The announcement on Monday also confirmed TikTok Globals plan for an initial public offering (IPO), tiktok global will also launch a listing plan to further enhance the corporate governance structure and transparency. Oracle also said tiktok global will IPO on the US stock exchange within a year.

Trump said last week that as part of the deal, byte hopping would create a $5 billion US Education Fund. But byte skipping means it doesnt know that. But some investors in Wal Mart, Oracle and byte jump said they would sponsor an online education initiative for urban and rural children. (Tianmen Mountain)

Extended reading trump asked Oracle to retain control of tiktok! Terminate investment of 490 million yuan, further reduce posts, wechat payment is planning to increase the size of deposit market, and relevant functions are in the testing stage. Source: Global Times editor in charge: Wang Fengzhi_ NT2541