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China's tech crackdown cost over $1 trillion. But the economy is in such deep trouble that the country's cozying up to its tech firms again. (www.businessinsider.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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China's tech crackdown cost over $1 trillion. But the economy is in such deep trouble that the country's cozying up to its tech firms again.::Local governments in China are wooing deals with tech giants to build on the so-called "platform economy," per the SCMP.

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[–] kredditacc@lemmy.world 14 points 1 year ago

The title is an opinionated interpretation of a fact, not a fact.

The crackdown was aimed at web-based services like e-commerce and ads and "innovative" ponzi scheme like cryptos.

But now that the US has launched a Tech war against China, China needs to develop their own core technologies: Hardware, Chips, AIs. Softwares, etc.