Trump threw a red herring about a 50:50 ownership of TikTok between China and the USA. This is impossible because China does not own TikTok nor ByteDance. ByteDance is 60% owned by international institutions, and the three major shareholders are American companies. The two Chinese shareholders of ByteDance are its creators, and they only own 20% while the balance 20% were own by its employees. And ByteDance is a Cayman registered company, not a company registered in China.
Technically and legally, ByteDance is not a Chinese company. In the same manner, ByteDance Chinese owners proportionally own only 20% of TikTok. If the employees' shares are included, the Chinese ownership will be only 40% of TikTok. The international institutions, mainly Americans, already own 60% of TikTok.
Trump and his legal advisers cannot miss this point, and to keep on harping about a 50% ownership is just a lie, a ploy. China does not have 50% of TikTok shares to sell to the Americans. And the Americans already own 60% of TikTok, more than what Trump is asking for.
So, what is the big fuss? TikTok is as good as already own by the Americans with 60% of the share ownership. The Americans are experts in laws and not to notice this is plain trickery.
What is the real intent of the Americans for kicking such a big ruse on TikTok to the point of banning it?
2 comments:
Trump is the most prolific liar of a President in USA history. The fact that he is a convicted felon makes a mockery of the position of the President of the United States. It lowers the Position of President whose job is running a circus, not leading the world as a superpower. Of course, he can pardon himself now, but I think all USA citizens ought to be ashamed. In time to come USA citizens going abroad will be loathe at and looked down upon.
Trump wants to be the President that signs the most executive orders, makes the most ridiculous and atrocious decisions, wants the most attention with his antics, thinks the whole world owes the USA a living, having to provide the USA with most things for them to enjoy, and being paid for with their toilet papers, on top of him being the most bankrupted President in the history of the USA. When they say the whole world laughs at Trump, that is an understatement. The whole world laughs at the USA and its citizens. The whole world hates and condemns Trump for all the trouble he is causing, all to cater to his narcissistic character.
The USA is being isolated more and more with Trump in power. That is the reality. What does changing the name of 'Gulf of Mexico' to 'Gulf of America' do to the USA? It is all nonsense. Not many countries around the world wants anything to do with the USA's 'Rules Based Order' nonsense as well, except the Anglo-Saxon White clique and a few that grovels at the feet of the USA. The 'Rules Base Order' was to enable the USA to sidestep the UN International Law to do its dirty deeds.
The USA thinks it can just pull wool over people's eyes over ByteDance ownership. What the USA wants is the technology of Tik Tok that is eating the breakfast, lunch and dinner of USA's domestic apps like Meta, Twitter and Youtube, which does not provide a platform for truthful news and vloggers are censored talking about the genocide in Gaza.
If Tik Tok goes under the control of the USA, being sold to a USA company, it will have to follow the censorship regime like Meta, Twitter and Youtube. It will basically be a lame duck app. That is why, whether Tik Tok gets banned eventually or sold to a USA company, most Tik Tok refugees are saying they want to remain on Rednote.
What the USA will do is also to ban Rednote down the road using the same narrative that it is a National Security Issue, being a truly China-centric app, more so than Tik Tok. What does that tell us about a country that touted itself to have freedom in this and that but does not walk the talk. Chinese citizens describe such freedom as without choice.
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