Economist Podcasts Taken for a ride: why China is leaning on Didi
Jul 6, 2021
In this discussion, Don Wineland, The Economist's China business and finance editor based in Hong Kong, delves into the aftermath of Didi's New York IPO and the fierce regulatory response from Chinese authorities. He explores how this crackdown reflects broader pressures on tech giants in China, influencing investor confidence. The conversation also touches on the current challenges facing the Biden administration in filling key ambassador roles, highlighting the impact on global diplomacy, and the complexities in defining the Southern Ocean.
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Didi's IPO and Regulatory Backlash
- Didi, a Chinese ride-hailing app, recently had the biggest US IPO since Alibaba.
- Days later, Chinese regulators investigated Didi's data practices and removed its app from app stores.
Didi's Data Collection Practices
- Didi collects extensive data, including video and audio recordings of rides, and shares some with third parties.
- The specific data violations leading to the investigation remain unclear.
Possible Reasons Behind the Crackdown
- The crackdown on Didi might be more than a data violation; it could be related to the timing of its US IPO.
- Regulators may have preferred Didi to resolve domestic issues before listing abroad.