Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 316

The Economist this week: Highlights from the latest issue

Posted by fidest press agency su sabato, 14 agosto 2021

Our cover this week examines President Xi Jinping’s assault on China’s $4trn tech industry. Chinese regulators have mounted over 50 actions against scores of firms for a dizzying array of alleged offences, from antitrust abuses to data violations, costing investors around $1trn. Mr Xi’s immediate goal may be to humble tycoons and give regulators more sway over unruly digital markets. But the Communist Party’s deeper ambition is to redesign the industry so as to sharpen its country’s technological edge while boosting competition and benefiting consumers. In this, it echoes many of the concerns that motivate regulators and politicians in the West: that digital markets tend towards monopolies and that tech firms hoard data, abuse suppliers, exploit workers and undermine public morality. China is about to become a policy laboratory in which an unaccountable state wrestles with the world’s biggest firms for control of the 21st century’s essential infrastructure. Zanny Minton Beddoes Editor-In-Chief The Economist

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