(I never expected the relationship to last, which was why I and my co-author Moritz Schularick came up with the word: Chimerica was a pun on “chimera.”) At some point after that, as I have argued in Bloomberg Opinion previously, Cold War II began.
The facts change, but people’s minds - not so much.Ĭhimerica was the dominant feature of the global economic landscape from China’s accession to the World Trade Organization in 2001 to the global financial crisis that began in 2008. The experience has taught me how hard it can be for an author to kill one of his own ideas and replace it with a new one. Wait, you’re saying that investing in the other side in the early phase of Cold War II might have been a bad idea? You’re telling me that “long totalitarianism” was not a smart trade?įor the past three years, I have been trying to persuade anyone who would listen that “Chimerica” - the symbiotic economic relationship between the People’s Republic of China and the United States of America, which I first wrote about in 2007 - is dead. Everything China touches must be viewed with suspicion.” For Hong Kong, the One Country, Two Systems principle was “dead.” As for the crackdown on some of the nation’s tech giants, the Beijing government’s treatment of Alibaba “is not a one-off. All Rights Reserved.“Investors have to rethink the entire China structure,” David Kotok of Cumberland Advisers said last week. China’s Ministry of State Security, the Cyberspace Administration of China together with five other Chinese central government departments conduct an on-site cybersecurity inspection of ride-hailing giant Didi Chuxing. Many celebrities, fashion stars have promoted products and service to users by opening social channels on the platform.Īpart from Xiongshu, LinkDoc Technology, fitness app Keep and E-commerce platform Meicai have also put their IPO-related activities on hold over the past week or two.Ĭhinese regulators have intensified security probe into Chinese term firm seeking list abroad after the country’s ride hailing giant Didi Chuxing went public quietly on the New York Stock Exchange.Ĭhinese regulators accused Didi of disclosing sensitive data such China’s traffic and customer data to U.S. IPO earlier this year, aiming to raise more than USD500 million.įounded in Shanghai in 2013, Xiaohongshu had amassed more than 300 million monthly active users (MAU) as of the end of 2020, around 70% of Xiaohongshu’s MAU are younger generation users which were born in 1990s or later. Xiaohongshu, whose major backer including Alibaba Group Holding and Tencent Holdings, is seeking for alternative options including a Hong Kong IPO as the Cyberspace Administration of China (CAC) said it would review all oversea listing of Chinese technology platform companies that obtains the personal data of at least 1 million users.Ĭiting sources closed to the matter, Bloomberg reported that Xiaohongshu had filed confidentially for a U.S.
#Sources didi keep linkdoc us full
IPO after Didi crackdown J10:30 pmĬhinese social media and e-commerce platform Xiaohongshu has delayed its planned initial public offering in the U.S after Chinese regulator strengthened scrutiny on oversea-listed Chinese companies by launching data-security probes into three technology firms, including Didi Chuxing, Boss Zhipin, Full Truck Alliance.
IPO after Didi crackdown - PingWest English 中文Ĭhinese social media and e-commerce platform Xiaohongshu delays U.S. Chinese social media and e-commerce platform Xiaohongshu delays U.S.
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