For a while, London was in the running to get the Tiktok international headquarters, but under the Tiktok-Oracle deal the UK’s capital seems to have lost that opportunity, says China internet watcher Matthew Brennan to CNBC. That seems another setback for the UK now the country is already suffering under the corona crisis and Brexit.
Ironically, TikTok has become the ideal platform to spread American soft power, says business analyst Shirley Yu at Yahoo Finance. “The fundamental competition between the US and China is going to be technological competition,” which will have a big impact on the media landscape and the way in which we live, she says.
China and the US might have their first evaluation of their 6-month old trade agreement soon, but the cross-currents between both countries are here to stay, says Berkeley Research Group managing director Harry Broadman to Bloomberg Markets. China kept largely its promises, while the US cannot afford to take on China in a more aggressive way, he says.