1/3/2024 0 Comments Didi keep ximalaya linkdoc usIt’s easy to see why Goldman’s clients were so worried.īut as the crackdown progresses, the Communist Party is dropping more clues about its priorities. Chinese tech companies including fitness app Keep, podcast operator Ximalaya, and LinkDoc Technology have all shelved their planned New York listings. exchanges, losing as much as half its value since February. Investors have stampeded out of offshore-listed stocks at a particularly rapid pace, with the Nasdaq Golden Dragon China Index, a gauge tracking shares listed on U.S. Through Wednesday’s close, the tech-dominated MSCI China Index has fallen 24.9% in the past six months from its February peak, compared to a rise of 9.3% for the MSCI All-Country World Index during the same period. “Regulatory pressure can materialize out of nowhere.” “China envisages a heavier regulatory hand and views tech as a political threat,” said Matt Gertken, a strategist at BCA Research who focuses on geopolitical and macro risks. It’s all in the name of limiting what the government sees as the companies’ monopolistic power-a perceived threat to Communist Party rule-and eliminating social inequality that can lead to public discontent. It banned its booming ed-tech industry from making profits and kneecapped video game makers like Tencent by restricting children’s screen time. (Didi denies the report.) The government ordered Didi, shopping platform Meituan, and e-commerce giant Alibaba to rectify past misconduct that interfered with fair competition and hurt drivers and passengers. and is now reportedly looking to take the firm under state control. Authorities suspended new sign-ups for Didi Global after the ride-hailing giant went public in the U.S. The government has hamstrung some of its largest homegrown tech stars, restricting or even forbidding them from operating their most promising business lines. But the prospect of China now being a no-go zone reflects just how much the regulatory campaign has spooked investors. The world’s second-biggest financial market after the U.S.-one the IMF expects to grow faster than almost any other major economy this year-looked like a surefire opportunity for investors up until Beijing started cracking down on Big Tech. The students asked good and tough questions about how to bring about unity in their environments, career and shape a better world.The idea that investors should avoid the Chinese market would have been unfathomable even a few months ago. You need to replace the current generation of failed leadership by proving that even if you have different views, you can rise as unifying leaders to mend a broken world.”įinally, I loved the questions and answers segment. Shouting at leaders "Shame on you!" can only go so far. My call to this next generation was this core message: “without Unity, all ideas are mere positions held by different people. Look out for the recording when it comes ! To return the favor to GIIS, I poured my heart out about how I discovered the calling of building a united world from age 16, and how through my experience at transforming organisations and interreligious dialogue, I found an approach which makes unity achievable. I met a leading educator who has found a new purpose after battling cancer, a mental well-being leader who struggled before finding the light to help others, a Bollywood actress who was outside the system and managed to find her place and now inspires others through community work, student speakers who are incredibly wise for their age and shared thought provoking solutions. My first TEDx this year was virtual but I definitely much prefer the in-person version where I could meet fellow TEDx speakers who were simply inspiring. 2nd TEDx talk for 2022 done! I am deeply honored that Global Indian International School - GIIS SMART Campus - Punggol, Singapore invited me to kick off their TEDx event.
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