Apple: the last US tech giant in China
With the Chinese regulatory crackdown bringing companies of their own country to their knees, European and US tech giants are gradually taking a leave from providing services. At the moment, certain apps for iOS are unavailable in China, such as Audible. If the drastic measures continue at the current pace, we could see tech giants of other countries taking a full leave from the vast economy.
Most US tech services were at one time present in China. But later down the road, many rules changed. As a result, social networking giant Facebook, LinkedIn, etc., shut down in China. According to the companies that left, conducting business in the country or complying with regulatory rules became quite difficult. Before gaining revenue, they dealt with cuts, taxes, and other forms of management change that have been an issue for the companies.
Chinas censorship issue is quite popular among general people, and there is not much to be done to tackle the problems. The nation is one of the most significant parts of human civilisation, making it lucrative for businesses. According to tradecommisnona.gc.ca, there are susceptible to certain risks, including fraudulent reporting of companies in China. As you can see, there are many invisible and seemingly impossible barriers to climb, even for the companies aiming at the long haul.
Along with the religious apps ban, quite a few productivity apps are also banned. The latest banned apps include Audible: Audiobooks & Podcasts, Sudoku New, Cars of New York, Wink – make new friends, and among them, two have very high ratings. BBC reported that the Quran app, used by millions, is banned in the country, which received tons of criticism.
Tech giant Amazon owns the audible podcast and audiobook app. The Yahoo Finance app was also part of the takedown. According to Apple's censorship group, they are spectating many apps restricted in the country without any evident reason to show. It is pretty upsetting to see gradual bans of apps demotivating tech companies to work with the land.
Tech companies compete among themselves to get the most customers and have the opportunity for innovation before others. Still today, Apple and Microsoft both are having a hard time picking the correct procedure as nothing seems to make sense. Even without depending on offshore companies, China has their tech giants. Alibaba, Huawei, Tencent are some of the most famous names worldwide, and even they are having trouble coping with rising challenges, let alone the US companies.
According to BBC, "The Chinese government has grown worried about the power they wield." And it reduces motivation for companies to invest in China or integrate business sections. What the future holds is still unclear, but at the moment, clear cut and straight-up scheduling are required so that companies are not hassled as they pay every bit of taxes and fines whenever necessary.
Cryptocurrency in China is finding a mixed feeling; sometime around, they were farmed on an industrial- scale and later banned. In August, the government unveiled a five-year plan for tighter regulation and a ban on iOS apps; global social media channel bans seem like part of the process.
Apple made more than $15 billion in revenue by product and service selling in China last year, so banning the company service will go through colossal loss, which is not equivalent to Microsoft's service. That is an extraordinary figure, and taking a hit on that will undoubtedly come on the report with red flags, causing different priorities. China has the largest mass manufacturing supply of tech than any country in the world, so being on their denylist will manoeuvre to other directions.