Chinese newspaper: There is no reason to agree to a TikTok deal ... dirty and unfair

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The English language China Daily reported, there is no reason for China to agree to the deal it described as dirty and unfair and based on bullying and extortion, which Oracle and Walmart announced to conclude with ByteDance.

The state-backed newspaper in China said in an article, what the United States did with TikTok is like a gangster method that imposes on a legal company an unacceptable and unfair business deal. National security has become the preferred weapon ... for Washington when it wants to undermine the success of any company from any foreign country that outperforms its counterparts in the United States. ByteDance will not only lose control of the company, but it will lose the technology that it invented and owns.

The three companies have issued conflicting statements about the terms of the agreement, which they hope will allow ByteDance's TikTok video recording app to continue operating in the United States, as the government intends to ban the app for security reasons. ByteDance had said it would establish a US subsidiary called TikTok Global, in which it would own an 80% stake.

But Oracle and Walmart said the majority of the ownership would be in American hands, in compliance with an executive order issued by US President Donald Trump on August 14 that BiteDance give up ownership of Tik Tok within 90 days.