The last has not been heard of the ongoing trade war between the United States and China, which has seen the Asian country continue its clampdown on US-owned tech giants.
In a new development, American multinational technology company, Amazon, has removed religious apps- Bible and Quran- following the continued onslaught by China.
According to Olive Tree Bible Software, the move by Jeff Bezo’s Amazon follows a request by the Chinese government, which has maintained a strict regulatory requirement for tech companies in the Asian country.
WHAT THIS MEANS:
- China has become a toxic ground for tech companies, especially those from the United States.
- The clampdown on US-based tech companies will continue until both countries settle their trade dispute which began under the administration of former president, Donald Trump.
- The revenue of the companies will experience a downturn as shares of the companies affected would plummet.
READ ALSO: Falz Talks Tough Ahead Of EndSARS Anniversary. Read His Statement
Recall that last Thursday, tech giant, Microsoft, announced that it would close down operations of LinkedIn in China later this year.
The decision, according to the company, came on the heels of the stringent regulatory requirements imposed on the professional networking site by Chinese regulators.
In June, the misfortune of Jack Ma’s business empire was tied to the actions and policies of the Chinese government.
Mr Ma, a Chinese business magnate and co-founder of Alibaba Group Holding Ltd, had since 2020 been in the middle of the Chinese government’s clampdown that targeted his e-commerce company and its affiliate, Ant Group.
In a report, Forbes reported that Mr Ma’s business empire’s current worth was half what it was nine months ago after the Chinese government took over some of his assets and introduced unfavourable policies and fines.
