Will European countries be on the same page as China on Big Tech regulation, while the USA still maintains loose policies, in order to back their leading corporations.
China’s antitrust crackdown on big corporations, including a record fine on e-commerce giant Alibaba, has been in the media spotlight in recent weeks.
Those steps signal that Beijing does not want to allow Big Tech “to monopolize in the way it has been doing” in the USA, noting that Europe is also growing more critical of those powerful companies.
According to economic update host Professor Richard Wolff, antitrust regulations had fallen by the wayside in the USA amid the stock market boom, allowing those firms to allocate a lot of cash and become donors to both the Republicans and Democrats.
That made them immune there, but that’s not the case in China, nor in Europe. The very fact that it happens in both Europe and China means that they will strengthen each other in pushing back against the still united States in America.
RT. com / ABC Flash Point Economy News 2021.