China has revealed what’s really at stake in the Trump administration’s escalating assault on its technology companies | Stephen Bartholomeusz
China has responded to the US attempt to ban, or force a sale, of ByteDance’s wildly popular app, TikTok. In doing so it has revealed what’s really at stake in the Trump administration’s escalating assault on its technology companies.
The depth and detail of its user information and the sophistication of its predictive algorithms are such that ByteDance sees itself as a legitimate potential rival to the giant US online advertising businesses like Facebook or Google. ByteDance has been negotiating with a consortium of Microsoft and Walmart, another involving private equity firm Centricus Asset Management and a music video and social media platform Triller and with Oracle for what could have been a $US20 billion-plus sale of its US and other international operations.
The list of technology exports China is now restricting or banning – using the same "national security" criteria as the US has used as the basis of its bans - includes agriculture, pharmaceutical IP and laser and other high-tech segments that could be categorised as "NextGen" technologies. Its ambition is to be the world leader in those categories and it is clearly making rapid progress. Last year, for the first time, China filed more patents internationally than the US.
The US is determined to protect its historic leadership in the technologies that will define economic – and military – supremacy in this century while China is trying to reduce its dependence on the West and become more technology self-sufficient to offset the US effort.
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