I hope that’s a start. Tencent is one of the biggest multimedia companies in the world and actually biggest in the video games market. That’s a lot of unused propaganda power right there.
A gacha where the profits go to the CPC would be fucking hilarious.
“Every box you buy goes into weapons for PLA!”
Cmon comrades, just one more Genshin skin!
Call of Duty but it’s goofy Chinese nationalism instead would be pretty cool.
As long as it’s not about Damansky island incident
Oh great, now when gamers whine about Tencent being owned by the CCP they won’t be wrong. 😤
*CPC
the reddit posts were funny, lotw of people crying that the evil she she pi have control over a company that makes their precious video games, also some people asking why they need these shares if they have all the control anyway and libs explaining away the cognitive dissonance as the evil government making a facade .
🎺 🎺 🎺 🎉 🎉 🎉
Cool, now do Bytedance
Then buy and shut down MLBB too
What do you all think about buying shares in Alibaba or Tencent? Not sure about Tencent but Alibaba stock is definitely available through international trading via Hong Kong stock exchange.
If you have your savings* in a bank, it’s being leveraged by bankers as finance capital. And not for your benefit (unless it’s a state bank under socialism).
If you have it in Tencent or Alibaba, it’s still finance capital, but in a business based in a socialist country heavily regulated by a socialist government.
So if you’re in a capitalist country and aren’t able to keep your money in a socialist state bank, maybe having it invested in a socialist country is the next best place to keep your savings (after burying it in the woods).
*: Of course the idea of having savings in 2023 is mostly hypothetical, but if you do have savings and this news gains traction, those share prices might dip if people afraid of the eebil seeseepee panic sell.
The question is, do you think the CPC would ever forcefully take over ALL of the company? I could see it being much safer and investment that anything in the west. Unlike here the CPC actually punishes people for fucking with the market and ban manipulative short selling. I just don’t know enough to know if it would be safe in the long run. I don’t think they would actually do anything to fuck over the people invested since most of them would be Chinese citizens most likely but like I said, idk. There’s also the issue of what happens if trade wars and shit gets worse and then one day the US says “sorry no trading stocks on Chinese markets.” Which honestly I feel is a far more likely scenario. At least, they would do that to individual investors. I’m sure the banks and wallstreet would be granted exception.
do you think the CPC would ever forcefully take over ALL of the company?
They should.
Actually, didn’t they do that with Evergrande? Now all their properties are public?
The issue with evergrande was they were being used by western banks to launder money and as collateral for “risky investments.” Evergrande was completely unsustainable and last I check the CPC said they would not be stepping in for any bailouts. I do not know if they took over or not. I support their takeover of any business if the purpose is to remove it from capitalist hands. Even more so if the plan is to relinquish control to a worker co-op/union structure.
But in answering the other users question one has to weight the risks on investing in this situation. If the CPC takes the company without reparations to any of the share holders then you gonna get burned. But from the few instance I personally know of (which honestly my knowledge is lacking) it seems they typically only take over when the business is either doing something super sketchy or has failed completely
I have a feeling you’re tossing a coin tbh. China’s stock markets function under the authority of the state, not the other way around as in the US. In times of economic turmoil, I have a feeling that the CPC would prioritize the wellbeing of their people over the stock lines going up.
I’m not sure what that would look like, but it’s definitely an interesting idea!
I have a feeling that the CPC would prioritize the wellbeing of their people over the stock lines going up.
I agree, but those are linked together when you have a system that suppresses Wall Street-style financial fuckery: the trade value of the business sits closer to the actual value of the business, and the value of the business is tied to its usefulness to people.
Also, in times of economic turmoil, China rides it out better than anywhere else. But then again part of that is because of social safety nets that wouldn’t be there for foreign investors.
Cool. Curious to see how it pans out. News and examples like this are useful for parties elsewhere in the world.
cHiNA bAD
Honestly curious why they’re doing this. The US-led west is already eying up any company whose CEO was seen even driving past a PLA parade as things to sanction and ban and fearmonger about.
I can’t imagine the US will react well to this and allow future Tencent acquisitions or investment in US companies, Alibaba I don’t think has as much exposure but Tencent had some interests and futures in the west I thought, though maybe they’re already being blocked and they decided basically if the west is going to do that and freak out they might as well actually have some power over them.
I don’t think China gives a shit what US thinks at this point. Their primary concern is to ensure that these megacorps are kept on a tight leash.
TenCent is “too big to fail”, if the US were to sanction them, a massive portion of the American entertainment sphere would collapse. It would be economic, and political suicide for nothing but propaganda points.
