Americans Invested Billions in Chinese Companies. Now Their Money Is Stuck.
Americans Invested Billions in Chinese Companies. Now Their Money Is Stuck.
TikTok’s turn in geopolitical cross hairs highlights the narrowing paths to liquidity for investments in Chinese companies.
It'd be really funny if ByteDance doesn't sell and TikTok getting banned crashes the economy.
Given the CCP involvement in their country's businesses, I think there will be a lot more involved than would be in other sales. There are already articles talking about how the sale will take longer than the 6-month timeline (if it passes the Senate/President and any potential legal challenges).
I don’t see there being a sale at all. ByteDance isn’t gonna sell the world’s hottest social media platform simply because a foreign country demands it, and even if it were a lucrative enough offer to be tempting, the CPC wouldn’t allow it anyway. If something like this happened in the other direction, I think 1/4 of the US Senate would go into cardiac arrest on the spot, and there’s exactly a 0% chance it would be allowed to happen
I always found this hilarious. I'm in Canada but this opinion applies to my country too.
Everyone keeps talking about evil undemocratic China, authoritarian, manipulative, immoral, untrustworthy and completely unlike our culture or ideals .
But we choose to conduct billions of dollars worth of business and transactions with them on a regular and ongoing basis.
We shouldn't trust them .... but we can buy everything we use from them.
Europe had a view in the 90s–00s that trade can be a vehicle for enforcing peace. That plus capitalist greed let Russia invade Georgia and Crimea before that view changed overnight too late. Similarly countries turn a blind eye on what China is doing
Why not Mexico?????
Oh no!
Anyway.
My money's just fine right here in my bank account. Plus some emergency cash in a drawer in my bedroom. I don't know what the big deal is. Fuck 'em.
Sorry but your money in the bank isn't fine, it gets slowly eaten by inflation. The inflation is designed in a way to stimulate your spending as saving them doesn't make economic sense.
Bitcoin solves this. The 1 BTC you have today will always be 1 BTC which will always be the same portion of supply. How much that BTC buys you will change over time, but the portion of supply will always remain the same. And if the last 15 years are any indication, it will generally buy you more over time. Meanwhile, your fiat currency increases supply by 2-3% per year in "good" years.
BTC has kept to its fiscal promise or a fixed supply and reliable transactions for 15 years. Bitcoin has a market cap of 850 billion dollars, which places it in the top 25 countries by GDP. Bigger than Sweden or Israel. It is decentralized and not run by any country but by a protocol enforced by tens of thousands of computers all over the globe. With Lightning, you can send an international transaction in under a second for under a penny in fees. You can do that with a smartphone and halfway reliable internet access. It works in warzones, it works in international waters (with satellite internet), it works everywhere. It doesn't care what your credit score is or whether or not your authoritarian government likes Bitcoin or not. No middlemen, no bank holidays, and it does this for < 1% of global electricity usage, mostly from renewables and "stranded supply".
As always, keep all your dollars in money
I love how they are trying to make these wealthy investors sound like your average American. Get fucked losers.
Good headline NYT, but now tell me why their money is stuck. Is it perhaps because the US is trying to legislate a TikTok ban?
You posted the article - did you not also read it? The article talks about that factor, among others.
Maybe OP was stuck behind the paywall
Shakes my head. Any we wonder why sound bites are the only thing people see these days.
If you are going to post something and then comment on it, you should at least read it yourself.
It’s not just Tick tock, according to this article.