After upbeat news on Monday indicated that the Chinese app issue TikTok has finally reached a happy conclusion after US President Donald Trump’s tentative approval of the takeover deal that Walmart and Oracle are preparing to conclude with ByteDance, it appears that things are not entirely rosy.
The Chinese government seems to be the main obstacle to concluding any agreement between ByteDance on the one hand and Walmart and Oracle on the other hand, as it has previously indicated that it does not rule out disrupting any such deal, but it seems that it is determined to do so despite the detente on the American side, This suggests that things have not ended yet as expected. According to the international news agency Reuters, quoting the Chinese newspaper Global Times, speaking for the Chinese government, the latter is unlikely to accept an unfair deal regarding the future of the Chinese application TikTok.
The Chinese newspaper Global Times said in its editorial in response to the new news coming from the United States of America regarding the deal, “It is clear that these terms broadly show the style of bullying in Washington and the logic of the rioters. “The United States, the deal was unfair. It is difficult for us to believe that Beijing will agree to such an agreement.”
And it seems that it has become clear that the conflict between the US and Chinese parties is no longer just a matter of Walmart and Oracle’s acquisition of the US TikTok, but also of the majority controlling party, as ByteDance says it will still control 80 percent of the shares of the new company, TikTok Global. Which will enter the two American companies in its capital, which is what Donald Trump rejects as he threatened to reject the deal and return matters to the first square, with what that means in terms of the possibility of permanently banning the application on American soil.
