this post was submitted on 08 Mar 2024
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Is it a private business if it's owned by the Chinese government?
It's really not though? The Chinese government has a 1% stake in ByteDance. Meanwhile ~60% is foreign investors – believed to be mostly American.
You have a misunderstanding of how China's government operates. It does not matter how much stake the government holds, companies just cannot say no to the government's request. Otherwise you will be disappeared. See Alibaba for example.
Remember, China does not have a democracy.
Ooooof, somebody licking the boot of capitalism a little too hard.