TikTok’s impasse with the United States of America
Where will the TikTok impasse lead the company that owns it, ByteDance, as the deadline approaches for ByteDance to reach a final agreement on a deal to sell the most famous application TikTok, or if it is not sold, the application will face the possibility of closure in the United States.
While it is not clear whether the time will actually expire on September 15 or September 20 – as the US administration has used both dates at different times – President Trump has said there will be no extension.
Meanwhile, China is taking a position, according to Reuters, that it would rather shut down TikTok in the US than force ByteDance to sell.
A forced sale would make China look weak, the Chinese leadership reportedly believes, and with their ability to block the sale, China’s mindset is likely to prevail — if a deal isn’t reached next week, which is still possible.
All of which suggests that TikTok is more likely to be shut down than sold, unless a Henry Kissinger-like figure emerges to broker a peace settlement between the two countries. (Parent company ByteDance will likely succeed in getting a court to block the shutdown order.)
It’s easy to forget, in all the drama surrounding this deal, how remarkable it is that a private company funded by investors is being held to ransom by a battle between two governments. The fact that it’s a video app primarily used by young people makes it a popular app.
If TikTok is closed, the repercussions on the global economy and private investments will have far-reaching effects in the future, as companies may think twice about the price of success on the international stage. This also happened with TikTok, ByteDance, one of the emerging Chinese technology companies, and its only desire was to achieve global success. According to Martin Pears
Source: theinformation
