"That order marked the sixth time a U.S. president has either blocked a deal or ordered a corporate selloff since Congress authorized the power to intervene in 1988."
I don't know the details of the others, but one that comes to mind (and maybe is mentioned in the article?) is the blocked acquisition of Qualcomm by Broadcom.
-edit-
The circumstances around some of these may not be exactly the same, but the derivation of power comes from the same source.
Also who cares about the WTO? I don't see the WTO being involved when China forces majority-owned joint ventures or outright bans US companies from operating there. Why would a court be involved either? Bytedance is welcome to sue, I suppose, but Trump (in this case) has the power to issue this order. I guess if we don't like that since it's being used now, we should have Congress vote to take that power away from the current and future presidents.
I'm in favor of this move overall. Besides the toxicity of social networking in general, I just don't see a point in letting Chinese technology companies operate in the US unless it's strictly under favorable terms for us. If they don't like it, then I guess maybe they should let US companies operate freely in their country. This will increasingly end up happening and I say good. China will grow tech companies, and the US will force them to divest or not operate in the US once there is significant money at stake until China plays fair. If they don't want to, well, that's just no big deal. We're doing just fine.
WTO accession had massive economic, political and legal implications within China. There's a good review here: [1].
Discussions in the West tend to completely ignore these changes. For example, joint venture requirements have been removed from most sectors of the economy. Or to give another example, an entire legal system to protect and enforce IP has been set up in the last two decades or so, and that system is now very heavily used (including by foreign companies).
"That order marked the sixth time a U.S. president has either blocked a deal or ordered a corporate selloff since Congress authorized the power to intervene in 1988."
WSJ - https://www.wsj.com/articles/trump-to-sign-order-demanding-c...
I don't know the details of the others, but one that comes to mind (and maybe is mentioned in the article?) is the blocked acquisition of Qualcomm by Broadcom.
-edit-
The circumstances around some of these may not be exactly the same, but the derivation of power comes from the same source.
Also who cares about the WTO? I don't see the WTO being involved when China forces majority-owned joint ventures or outright bans US companies from operating there. Why would a court be involved either? Bytedance is welcome to sue, I suppose, but Trump (in this case) has the power to issue this order. I guess if we don't like that since it's being used now, we should have Congress vote to take that power away from the current and future presidents.
I'm in favor of this move overall. Besides the toxicity of social networking in general, I just don't see a point in letting Chinese technology companies operate in the US unless it's strictly under favorable terms for us. If they don't like it, then I guess maybe they should let US companies operate freely in their country. This will increasingly end up happening and I say good. China will grow tech companies, and the US will force them to divest or not operate in the US once there is significant money at stake until China plays fair. If they don't want to, well, that's just no big deal. We're doing just fine.