Chinese tech startups thrive, yet bear 'original sin' accused by the U.S - Part 2
Given that the "original sins" were entrenched, it could not dampen Chinese tech startups' demands to be listed on the world's largest capital market, which is three times larger than all China's stock markets combined.
In September, Jumpstart reported that six more Chinese startups had filed for U.S. initial public offerings (IPOs), regardless of the new bill from the U.S. Senate that could force nearly 800 Chinese firms to give up their listings if they do not comply with the U.S. audit requirements and certify themselves as "not owned or controlled by a foreign government."

Those aggressive moves from the U.S. government sometimes receive backlash from the global business community and think tanks.

In June, the content platform Tiktok, owned by one of the most valuable Chinese startups in the world ByteDance, was claimed to "threaten the national security, foreign policy, and economy of the United States" in an executive order signed by President Trump to prevent the app from operating in the U.S.

In a Facebook meeting in August, BuzzFeed reported that the company's CEO Mark Zuckerberg, though sympathizing with the Trump administration's concerns, considered the ban "a really bad long-term precedent". He alluded to the idea that other countries might target Facebook's products later as a consequence.

CNN also cited critics' opinions that the U.S. government's attempt to control its citizens using the internet via Tiktok could set an anti-democratic precedent.

"When a country like the U.S. begins to erode the ideas of democracy, it naturally opens the door for other countries to do the same," CNN quoted Nanjala Nyabola, an author and political analyst specializing in politics in the digital age.

As China is the world's largest and fast-growing consumer market, the U.S. tech industry, on the flip side, is not operating unscathed in the midst of the mounting tension between the two countries.

"Revenue from that big market fuels our big research investments, which allows us to innovate and drive America's economic growth and national security," the president and chief executive of the U.S.'s Semiconductor Industry Association John Neuffer told The New York Times after the Commerce Department considers adopting a proposal to block transactions between American companies and Chinese counterparts.

"It [China] is fully integrated into the global economy. It is inexorably tied with the United States," said Jon R. Taylor, professor of Political Science at the University of Texas in San Antonio and a columnist of Bejing Review. "Whether certain people want to talk about decoupling or not, that decoupling is almost impossible given our global trading system."
Tác giả: Bùi Thị Thanh Mai