[ Reuters ] U.S. blocking Chinese acquisitions of global tech firms a “red flag” – Chinese state-backed tabloid

Chinese state-backed tabloid the Global Times called U.S. efforts to block cross-border acquisitions of tech companies a “red flag” that impedes China’s tech sector and disrupts the growth of the global tech sector.

The outlet, which is published by the People’s Daily, China’s official newspaper for the ruling Communist Party, argued a recent attempt to block a Chinese purchase of a Korean chip company “represents a dangerous precedent for the industry as a whole.”

“If the US succeeds in blocking the deal this time, it could set a very bad precedent for global high-tech mergers and acquisitions, further consolidating the industrial concentration in the US,” the op-ed read.

DPA Notes: But curiously, China is busy self-destructing at home by destroying mega tech firms like Ant Group, Tencent, Alibaba and DiDi while signaling that Chinese companies will not be “encouraged” to list in the US (or overseas for that matter)…