SHANGHAI (Reuters) – China has no reason to endorse the “dirty and unfair” deal based on “bullying and extortion” that Oracle Corp and Walmart Inc have said they struck with ByteDance, said the English-language newspaper China Daily on Wednesday. .
“What the United States has done to TikTok is almost the same as a gangster forcing an unreasonable and unfair trade deal on a legitimate company,” he said in an op-ed.
The three companies have issued conflicting statements on the terms of a deal that they hope will allow ByteDance TikTok’s video app to continue operating in the United States, where the government plans to ban the app for security reasons.
ByteDance has announced that it will create an American subsidiary called TikTok Global in which it will own 80%.
Oracle and WalMart, however, have said majority ownership of TikTok Global will be in American hands, in accordance with an August 14 executive order from US President Donald Trump that ByteDance will relinquish ownership of TikTok within 90 days.
“National security has become the weapon of choice for… Washington when it wants to curb the rise of all foreign-country companies that outperform their American peers,” the editorial said.
“Bytedance… risks losing not only control of the company, but also its core technology that it created and owns,” the commentary reads. “China has no reason to give the green light to such an agreement. “
The China Daily article follows a Global Times editorial published Monday night that China is unlikely to approve the deal. The Global Times is published by the official People’s Daily of the ruling Communist Party.
Another Global Times editorial published Tuesday evening called the deal “extortion.”
“China, as a great country, will not accept blackmail from the United States, nor will it cede control of an outstanding Chinese high-tech company to extortionists,” he said. .