China’s tech titans can rely on their massive home market to ride out a Donald Trump-led campaign against them overseas, and in the long-term their global prospects remain strong, analysts say.
Tech firms from China have stormed to success in the global market with everything from video-sharing apps and mobile games to smartphones and sophisticated telecom infrastructure.
But the United States, Australia, Britain and India are among the huge markets where they have taken a hit because of espionage concerns or diplomatic feuds, tethering their international ambitions – for now.
“Technology is increasingly becoming a geopolitical issue” and “a strategic priority” for a growing number of countries, Dexter Thillien, an analyst at Fitch Solutions, said.
However, Chinese firms have a massive market at home to focus on even if they are unable to pursue ..
TikTok, for example, is one of the most popular Chinese-made apps in the world but is not available in the country.
Instead, its parent ByteDance offers a similar app called Douyin, which Bloomberg News said surpassed 600 million daily active users in August and yielded $6.1 billion in revenue over a 12-month period. And ByteDance China’s CEO said it aimed to double that over the next year.
The Trump administration has claimed that the wildly popular short video-sharing app
TikTok could be used by China to track users and conduct espionage, effectively forcing the sale of its US unit.
