Beijing has no reason to approve “dirty and unfair” Tik Tok-Oracle deal – China Daily


In an editorial piece by China Daily, the Chinese media outlet slams the US’ approval of the Tik Tok-Oracle agreement, calling it a ‘dirty and unfair’ deal, adding that Beijing has no intention to approve such a deal that is based on "bullying and extortion".

Key quotes

"What the United States has done to TikTok is almost the same as a gangster forcing an unreasonable and unfair business deal on a legitimate company."

"National security has become the weapon of choice for ... Washington when it wants to curb the rise of any companies from foreign countries that are out-performing their US peers.”

"China as a big country will not accept blackmail from the US Nor will it hand over control of an outstanding high-tech Chinese company to extortionists." 

Market reaction

The risk sentiment remains tepid amid the coronavirus resurgence in Europe and renewed US-China tensions. The greenback continues to benefit from increased haven demand when compared to its main rivals.

The higher-yielding aussie got hammered amid risk-aversion and RBA rate cut calls, with AUD/USD now meandering near six-week lows of 0.7127. The spot is down 0.61% on the day.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.

EUR/USD News

GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.

GBP/USD News

XAU/USD ticks up to $1,910 and turns positive on the day

Gold futures have found support right below the $1,900 area earlier today before inching up to $1,910, turning positive on daily charts. The precious metal lost ground, with the US dollar building up during the European session on Tuesday, to appreciate during the North American session with market sentiment improving moderately.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures