By Hope King, Axios
Big Tech players in China like Alibaba, Tencent and Baidu are facing challenges all-too-familiar to Amazon, Facebook and Google.
Why it matters: Antitrust has become a big theme for Beijing and this could hamper growth of China’s tech sector should authorities decide to regulate with a heavy hand.
What’s happening: Alibaba, which operates some of the world’s largest e-commerce platforms, has been under investigation for stifling competition and could be facing a fine of $1 billion or more and forced divestitures as an antitrust probe into the company continues, according to the Wall Street Journal.
