Lest Chinese Conglomerates Forget
August 4, 2017
Alphabet, the parent company of Google last week was fined $2.7 billion for abusing its position in search engine results. This should provide Chinese companies with global ambitions a precursor on what lies ahead for them.
In an editorial published by China Daily and titled Google’s Fine a Reminder, the author says:
Fining of Google should remind Chinese enterprises intent on going global that they should abide by local laws and regulations to avoid possible economic losses resulting from any malpractices and wrongdoings.
China is a closed ecosystem where Google, Facebook, Apple, or Amazon have absolute no dominance unlike in rest of the economies. Here, homegrown companies rule the roost. However, with burgeoning profits fuelled by domestic consumption, the Chinese companies are looking to expand to other markets.
With a reputation of lofting rules, Google getting fined by EU regulators should tell Chinese companies if they break the law of the land, expect being penalized, heavily.
Vishal Ingole, August 4, 2017
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3 Responses to “Lest Chinese Conglomerates Forget”
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