TikTok Fight Cast Shadow Over Investments in Other Chinese Companies

When investors talk about “zombie” companies, they’re usually referring to distressed start-ups that are hobbling along, unable to grow and unlikely to ever return the money they’ve raised. But as deal makers feverishly debated efforts this week by lawmakers to force TikTok’s Chinese parent company, ByteDance, to sell the app, they talked about a new version: China zombies. China zombies may have booming businesses, but they’re unlikely to provide investors with any immediate return because they’re stuck in geopolitical cross hairs. It’s not just the investors in ByteDance who, after…

TikTok Bill’s Progress Slows in the Senate

After a bill that would force TikTok’s Chinese parent company to sell the app or face a nationwide ban sailed through the House at breakneck speed this week, its progress has slowed in the Senate. Senator Chuck Schumer of New York, the Democratic leader who determines what legislation gets a vote, has not decided whether to bring the bill to the floor, his spokesman said. Senators — some of whom have their own versions of bills targeting TikTok — will need to be convinced. Other legislation on the runway could…

TikTok’s Security Threats Go Beyond the Scope of House Legislation

In a capital where Republicans and Democrats agree on virtually nothing, it was notable when the House overwhelmingly declared on Wednesday that TikTok poses such a grave risk to national security that it must be forced to sell its U.S. operations to a non-Chinese owner. But that glosses over the deeper TikTok security problem, which the legislation does not fully address. In the four years this battle has gone on, it has become clear that the security threat posed by TikTok has far less to do with who owns it…

U.S. House Passes Bill That Could Ban TikTok

The House on Wednesday passed a bill with broad bipartisan support that would force TikTok’s Chinese owner to either sell the hugely popular video app or have it banned in the United States. The move escalates a showdown between Beijing and Washington over the control of a wide range of technologies that could affect national security, free speech and the social media industry. Republican leaders fast-tracked the bill through the House with limited debate, and it passed on a lopsided vote of 352 to 65, reflecting widespread backing for legislation…

What to Know About the TikTok Ban Legislation

House lawmakers are expected to vote starting at around 10 a.m. on Wednesday on legislation meant to force ByteDance, the Chinese internet company, to sell its wildly popular social media app TikTok. The vote would be the latest development in a yearslong cold war between the United States and China over who controls valuable technology from computer chips to artificial intelligence. Lawmakers and the White House have expressed concerns that TikTok’s Chinese ownership poses a national security risk because Beijing could use the app to gain access to Americans’ data…

Big American Tech Profits From Chinese Ad Spending Spree

The trade relationship between China and the United States has plenty of friction. But at least one area is booming: Chinese start-ups looking to establish a presence in the West are spending billions of dollars for advertisements on services owned by some of Silicon Valley’s biggest technology companies. Temu, the international arm of the Chinese e-commerce giant Pinduoduo, is flooding Google with ads for absurdly inexpensive goods. With an initial public offering looming, the fast-fashion merchant Shein is inundating Instagram with ads for clothes and accessories at rock-bottom prices. Developers…

John Kerry: ‘I Feel Deeply Frustrated’

When former Secretary of State John Kerry stepped into a newly created post as America’s top climate diplomat in 2021, the reputation of the United States abroad was, in his words, “in the crapper,” and the pathway to meeting the world’s climate goals looked, to most, very narrow. Kerry, now 80, is stepping down this week to take a role on the Biden re-election campaign. In the last three years, the climate landscape has changed in two big and contradictory ways: The goal the world set in Paris in 2015…

China Cancels a News Conference, Shutting a Window for Its People

For more than 30 years, the Chinese premier’s annual news conference was the only time that a top leader took questions from journalists about the state of the country. It was the only occasion for members of the public to size up for themselves China’s No. 2 official. It was the only moment when some Chinese might feel a faint sense of political participation in a country without elections. On Monday, China announced that the premier’s news conference, marking the end of the country’s annual rubber-stamp legislature, will no longer…

China Sets Economic Growth Target of About 5%

China’s top leaders on Tuesday set an ambitious target for growth as its economy is laboring under a steep slide in the housing market, consumer malaise and investor wariness. Premier Li Qiang, the country’s No. 2 official after Xi Jinping, said in his report to the annual session of the legislature that the government would seek economic growth of around 5 percent. That is the same target that China’s leadership set for last year, when official statistics ended up showing that the country’s gross domestic product grew 5.2 percent. Some…

Biden Calls Chinese Electric Vehicles a Security Threat

President Biden took steps on Thursday toward blocking internet-connected Chinese cars and trucks from entry to the American auto market, including electric vehicles, saying they posed risks to national security because their operating systems could send sensitive information to Beijing. The immediate action was the opening of a Commerce Department investigation into security threats, which could lead to new regulations or restrictions on Chinese vehicles. But administration officials made clear it was the first step in what could be a wide range of policy responses meant to stop low-cost Chinese…