China’s regulatory action against Didi is an “attempt to prevent information of Chinese companies from being leaked to the outside,” according to Gordon Chang, author of “The Great U.S.-China Tech War,” who joined FOX Business’ “Mornings with Maria,” on the heels of the ride-hailing giant being banned from app stores in the country after listing on the New York Stock Exchange.
GORDON CHANG: There are so many wrongdoers here. First of all, the Chinese government waited two days after the Wednesday IPO of Didi Global to announce the investigation into the ride–hailing app, as well as to make sure that there were no more downloads of it in China. They could have done this before the IPO. The company itself knew that this was coming. They should have done something. And the U.S. underwriters had to know that this was in the works.
China has been very clear. They’re trying to prevent information of Chinese companies from being leaked to the outside. And I don’t know how you can list Chinese companies in the U.S. or anywhere else outside of China when they have this drive to make sure that you can’t look into the workings of the company and the company can’t deal with countries outside of it on a normal basis.
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