Trump's Order Could Still Affect American Companies That Do Business In China
You might not lose the ability to play your favorite games -- and purchase things in them -- but President Trump's executive order against Tencent is still having some effects on the company. Notably, it's being reported that the company lost $34.6 billion in market value overnight, and it could still affect American companies, even those who aren't involved in video games.
Newsweek is reporting that the order will only affect WeChat, and not the vast number of other companies Tencent is involved in. So don't worry, you'll still be able to play League of Legends (Riot is 100% owned by Tencent) and Fortnite (Epic Games is 40% owned by Tencent), as well as numerous other companies that Tencent has a smaller piece of (Grinding Gear Games, Activision-Blizzard, and so on).
If the XO only targets WeChat, then what's the problem? WeChat has over a billion global users, who use it for all sorts of things -- not just social media. As one analyst predicts, the ban "has potential to take a cleaver to US-China links - at a corporate and personal level" by forbidding users in China from using WeChat to conduct transactions with American companies located there. And there are a lot of American companies doing business in China. You can debate whether that's a good thing or a bad thing and the consequences of it, but it's unlikely that big American companies aren't going to try and push back on this.
So most Americans might not have much to worry about, but -- unsurprisingly -- Donald Trump has unleashed what's likely to be an unexpected firestorm of controversy due to his, and others', presence on social media. This time, however, the opposition won't be some marginalized groups but large corporations with plenty at stake, and the resources to put up a fight. As for me, I'm just looking forward to having a president who won't go ballistic and try to tank a segment of the economy when someone says mean things to him.
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
You May Enjoy
Valve Boots Blockchain/Cryptocurrency/NFT Titles Off Steam(UPDATE: But Epic Games Will Take Them!)
No F***ing Thanks or Newell Flags Transactions?By Jason Winter - 1 week ago
KOG Games Drops Massive Systems Revamp Of Action Fighting Game, KurtzPel
The revamp introduces a new progression system, tutorial mode, and more.By QuintLyn Bowers - 4 days ago
Bulgarian Developer Beast Burst Showcases Its Scars Of Honor MMORPG
Offers scaling dungeons and all the other typical MMO fixingsBy Jason Winter - 6 days ago
Conan Exiles' People of the Dragon DLC Takes Players To Germanic-themed Nemedia
Over a hundred new pieces to decorate your character and castle.By Jason Winter - 4 days ago
New Update To FFXIV Endwalker Page Reveals The Magus Sisters Are A Trial
It also adds info about the two new raids, dungeons, and small-scale PvP content.By QuintLyn Bowers - 3 days ago
Celebrate Halloween In Skyforge, Neverwinter, and SoulWorker
Pumpkins, mazes, candy, and bossfights.By QuintLyn Bowers - 3 days ago