Published 13:01 IST, August 30th 2020
China revises tech export restrictions, could allow country to interfere in TikTok deal
In a big move, China revised its list of technologies banned or restricted for export adding 23 items to the list for the first time in 12 years
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In a big move, China revised its list of technologies banned or restricted for export adding 23 items to the list for the first time in 12 years. China's sudden revision of restricted technologies late on Friday night is being eyed with suspicion especially since experts believe that it could allow Beijing to directly interfere in the divestment of TikTok and the deal being worked out between ByteDance and US companies like Microsoft in regards to the short video platform's operations in the states.
China's state-sponsored media Xinhua interviewed Cui Fan, a professor of international trade at the University of International Business and Economics in Beijing who believed that the changes in the list could impact TikTok. "If ByteDance plans to export-related technologies, it should go through the licensing procedures,” he said to Xinhua.
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China's new tech export controls add technologies such as personal information push services, including those based on data analysis and artificial intelligence interactive interface technology to the list. According to the revised rules by China's Commerce Ministry, it would now take up to 30 days to obtain preliminary approval to export such technologies to other countries, a move that is being seen as China's desperate attempts to put itself once again at the helm of affairs.
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Walmart & Microsoft to partner up for TikTok?
Yesterday reports had revealed that retail giant Walmart expressed interest in joining hands with Microsoft to acquire the Chinese app. TikTok has been caught in the eye of a storm ever since the US Government called it a potential national security threat, accusing it of leaking information to the Chinese government.
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US President Donald Trump in mid-August said that the company has three months to divest itself of any assets used to support the popular TikTok app in the United States. Trump had ordered ByteDance, the parent company of TikTok, to either sell or spin off its American branch within 90 days. This occurred after Trump signed a separate executive order banning American transactions with WeChat and TikTok’s parent company ByteDance in 45 days.
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(With Agency Inputs)
13:01 IST, August 30th 2020