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A comment on US to ban transactions with ByteDance and WeChat in 45 days. Parent comment

Re:US to ban transactions with ByteDance and WeChat in 45 days by bluelu on Friday August 07, 2020 @11:16AM (#24082764)
China does not prevent american businesses to do business in China as long as they follow the law.

European and foreign businesses get much higher fines compares to local businesses (e.g. Volkswagen, Deutsche Bank, Bayer (e.g. just after buying Massato), Toyota, etc...)

On the other hand Europe allows american businesses to access the european market without following the local laws. No user data can be transfered to the USA where protection clearly is not adequate, still they do.

EDIT: You can downvote me, but it's all true:

https://www.nytimes.com/2015/09/29/business/dealbook/volkswa...

"Criminal fines in the United States from 2001-12 were on average more than seven times the size for overseas entities than for American companies"

[ Parent | on HN ]
Re:US to ban transactions with ByteDance and WeChat in 45 days by learc83 on Friday August 07, 2020 @01:37PM (#24084511)
> China does not prevent american businesses to do business in China as long as they follow the law.

You fail to mention that the law requires 51% ownership by a Chinese company and forced IP transfer.

You also fail to mention that there are many industries in which foreign company are completely prohibited.

And the Chinese version of “following the law” includes whatever the party arbitrarily decides you should do. Including things like forcing companies to remove any mention of Taiwan from material completely outside of China.

[ Parent | on HN ]