The Costs of China’s Tight Control

The Chinese Communist Party (CCP) tries to be in complete control of the narrative, doing anything necessary to limit the outflow of negative information. Now it’s asserting its dominance over large Chinese businesses. According to reports, not only is the CCP worried about the massive amounts of capital these companies are bringing in… but it also wants access to the immense customer data they’ve collected. As George Gilder points out, however, it’s not unlike the threats the U.S. government is making against domestic tech companies… or regulators’ sudden interest in special purpose acquisition companies (SPACs) and trading platforms like Robinhood.