11/19/2023 0 Comments Tik tok stock forecast![]() ![]() The previous peak of the West-China feud, the U.S. TikTok is at the center of everyone’s attention at the moment, but it’s just the latest point in the growing chasm between the West and the Chinese regime. This growing alliance between the tech and government leaders demonstrates how seriously the threat posed by China is perceived in the U.S. The business leaders went as far as calling TikTok a “Chinese espionage operation” against the U.S. In addition, the Federal authorities have backing from a group of Silicon Valley executives coming from various prominent firms such as 137 Ventures and Founders Fund. According to the media, the Justice Department and the FBI are investigating the surveillance of American TikTok users by ByteDance. This time, the “sell or be banned” ultimatum is conveyed to the social video platform by the Committee on Foreign Investment in the United States (CFIUS), composed of the Departments of Treasury, Justice, Homeland Security, Defense and Commerce, and others. ![]() Now, the bipartisan distrust of China-owned companies has increased so much that even if the divestment demand is met with a legal challenge – which it almost certainly will be – Biden’s administration will not be alone in this fight. In 2020, President Trump – who took the U.S.-China information security issues public – tried to ban TikTok in the U.S., but the action was halted by federal courts. Lawmakers have cited potential cybersecurity and political influence risks, saying that the Chinese government could order TikTok to collect data and information on Americans or influence what videos they are shown on the app. TikTok is owned by the Chinese internet company ByteDance. users of the app to be weened from the addictive short video platform. Now, it might be time for the 100 million U.S. For instance, the European Parliament, European Commission, and the EU Council have imposed bans on TikTok on staff devices, citing cybersecurity concerns.įurther, the United Kingdom and New Zealand have become the latest to join the growing list of countries that have recently issued orders banning the use of TikTok on government-issued devices as concerns grow over the app’s privacy and security. government and a succession of other Western countries have blocked TikTok on government-issued devices. The issue isn’t purely a U.S.-China dispute, as other countries have also been increasingly wary of Chinese business expansion. ![]() In many ways, Chinese stocks are becoming riskier than before. The nationwide ban threat is a serious escalation in the dispute about data security, which has been ongoing for a number of years. unless its Chinese owners sell their stake in the platform. The Biden administration has threatened to ban TikTok, a wildly popular social media app, from use in the U.S. ![]()
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