Why China Is Crushing Its Own Tech Sector
1. China and Tech
Over the holiday, the Chinese government decided to crack down on the app Didi.
Didi is the Chinese Uber. It’s a big company. On June 30, it went public on the NYSE and shot to a market cap of $68 billion. Like I said: Big company.
But just a few days later, the Chinese government instituted a “review” of Didi. And two days after that, th…