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China's tech crackdown unlikely to cause much damage

While the immediate damage may be curtailed to some extent, what is the guarantee that China will not change the rules of the game again? 

July 29, 2021 / 09:45 AM IST
China's tech crackdown unlikely to cause much damage

People attend a ceremony marking the opening of iron ore futures to foreign investors, at Dalian Commodity Exchange in Dalian, Liaoning province, China. (REUTERS)

After rattling the commodity market, China has now shaken the equity markets. The Chinese government's attack on Big Tech continues unabated, giving the market the jitters. It seems the biggest technology players in the country are being hand-picked to toe the government’s line. Though the market is not appreciating the action of the Chinese government, there is a reason behind the madness as this article in Moneycontrol argues. Whatever the reasoning of the Chinese government, the market does not like uncertainty. Sudden changes in...

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