![]() ![]() In other words, giving Chinese spies access to Social Security numbers and reams of personal information on American citizens - if that’s what’s happening - with regard to Webull and Moomoo is a recipe for disaster, certainly more of a national security concern than anything gleaned from the TikTok app.Īnd this will add to agita: front-line regulation of all registered broker deals is divvied up between two feckless entities, the Financial Industry Regulatory Authority (FINRA) and, of course, the Securities and Exchange Commission run by Gary Gensler. Later, its founder, Chinese entrepreneur Jack Ma, disappeared for months after mildly criticizing the CCP because, well, that’s what they do in a surveillance state. providing preferential treatment to particular industries and companies.” In the deal docs, there was a not-so-subtle risk factor about how the Chinese government “exercises significant control over China’s economic growth. My full appreciation of the CCP’s dominance occurred about a decade ago covering the IPO of Alibaba, a massive e-commerce outfit in the mold of Amazon but headquartered in China. TikTok hiring again after imposing freeze under US security heat, sources sayĪnd if you know anything about China Inc., the Chinese Communist Party really is in control of every Chinese company. That said, I put nothing past the Chinese surveillance state, whether it’s sending spy balloons over US military bases, using TikTok data or anything else at its disposal to gain an edge. I know I said I’m somewhat dubious about TikTok’s relevance to Chinese spies because I’m not totally convinced there is spycraft value in ripping off the identity of some random kid. Chinese apps have been accused of sharing US data with the CCP. It includes Social Security numbers, age, mailing addresses, etc., pretty sensitive stuff, which in the wrong hands could lead to identity theft and much more. ![]() They’re also emerging as an increasingly legitimate national-security concern if you listen to Tuberville and Banks because, like TikTok, they too collect data from their customers that are possibly fed into the Chinese spy apparatus.Īnd when you break it down, you can see how the Webull/Moomoo threat appears more pernicious than TikTok’s, involving amorphous stuff like search history and “biometric identifiers” - identification characteristics gleaned from voice recognition and earlobe size.Īs most people know, whenever you trade a stock or buy any type of investment, you need some sort of broker to complete the transaction.īrokers ask for a lot of hard info, much more than TikTok can ascertain. Odd names, to be sure, but they are becoming increasingly thorny competitors to American discount brokers (Schwab, Robinhood, ETrade) for US retail traders. ![]() It centers on concerns that increasingly popular discount brokerages owned and operated by Chinese parents are also possibly spying on us. ![]() So with the same degree of skepticism, I am approaching the latest China-inspired scare among some elements of our ruling class (this time, members of Congress, including Sen. In the case of TikTok, it’s sucking up swaths of data from all those tweens who signed up to post TikToking dance videos. The worry in DC and beyond, of course, is China’s vast surveillance state that has the final word on the operations of every Chinese company. Jerome Powell’s sappy talk on banks is weak after multiple collapsesĬlueless Yellen fails to stave off bank crisis as First Republic sinksĪ part of me remains just a little skeptical about the national-security perils of TikTok even as the consensus builds that the wildly popular short-video app is an existential threat because its parent company is Chinese. Dodgers inviting Catholic-offending, trans-queer group to Pride Day is latest MLB errorĭisney isn't killing Florida jobs over Ron DeSantis - but to save itself ![]()
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