Editor’s note for Tuesday, August 31, 2021
A note from the editor of today’s The China Project Access newsletter
My thoughts today:
I am keeping a list of China’s crackdowns on tech and business, which has become necessary because so many are going on that our comprehensive guide to the tech crackdowns published on August 2 is already out of date. Based on that guide, yesterday’s The China Project summary and this Reuters piece, here are the current targets of the state’s onslaught against the power of private capital:
- Ecommerce companies
- Social media companies
- Fintech companies
- Fan clubs (organized online and promoted by TV) and celebrity culture
- High-income individuals who avoid taxes, or make “excessively high incomes”
- Tutoring and education companies, private schools
- Gaming companies
- Ride-sharing, car-hailing, bike sharing, and powerbank sharing companies
- Companies that want to IPO in the U.S.
- Companies that make heavy use of algorithms
- Cloud computing firms that sell services to state and Party organizations
- Bitcoin miners and crypto exchanges
- Real estate companies and landlords
- Private investment funds
I wonder, does Ray Dalio still think it’s business as usual in China?
Our word of the day is dumbbell (哑铃 yǎlíng).
