Why China Is Crushing Its Own Tech Sector
Power centers.
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1. China and Tech
Over the holiday, the Chinese government decided to crack down on the app Didi.
Didi is the Chinese Uber. It’s a big company. On June 30, it went public on the NYSE and shot to a market cap of $68 billion. Like I said: Big company.
But just a few days later, the Chinese government instituted a “review” of Didi. And two days after that, th…