beijing's actions come on the heels of
growing regulatory action elsewhere
against tech
the u.s justice department suing google
for anti-trust violations last month
and the european commission filing
anti-trust charges against amazon
on monday let's go now to our financial
correspondent in frankfurt chelsea
delaney
i do not believe that is chelsea
maybe we can try and get chelsea up
there's chelsea good morning chelsea
um going back to china here what is
the reason for this crackdown on tech
right now that we're seeing
well china is clearly sending a strong
message to
its homegrown tech giants that this age
of freedom that they've had
over the past several years that's
allowed them to grow into these giants
is really coming to an
end and china was known for having quite
a light
touch towards regulating its tech
companies but it's starting to share the
same concerns that we're seeing playing
out in the west which is that these
companies
have too much power they have too much
consumer data
and they're really creating a an
environment where other tech companies
just can't thrive and we are seeing a
consensus not just in china but in the
us and europe as well
but that's really bad for for business
that's bad for uh for the the tech scene
and that's
bad for consumers as well now chelsea we
mentioned there the eu and the us
also pursuing similar anti-trust
measures are investors bracing for an
era of greater tech regulation
absolutely these companies are under a
really unprecedented amount of pressure
we're seeing
not just china cracking down but the us
the eu
all are really taking new action against
these companies
and what they're looking at now is not
just fines that we've seen over the past
couple of years that you for example has
handed down
several multi-billion dollar fines to
companies like apple or
alphabet it hasn't really had much of an
effect on these companies business in
part because they have
really immense amount of cash on their
balance sheet but now we're moving into
a new era where
where regulators around the world aren't
just looking at fines they're also
looking at
really reshaping and rewriting tech laws
that would directly target
these companies ability to grow and that
definitely is a big concern for
investors
all right chelsea delaney in frankfurt
thank you very much
you