US Treasury Department Scrutinizing Riot and Epic over Tencent Connections

Following their actions against TikTok, word is the Trump administration is now scrutinizing companies with backing from Chinese conglomerate Tencent, including Epic Games and Riot. Bloomberg reports the details:
The Trump administration has asked gaming companies to provide information about their data-security protocols involving Chinese technology giant Tencent Holdings Ltd., people familiar with the matter said.

The Committee on Foreign Investment in the U.S., which is chaired by the Treasury Department, has sent letters to companies, including Epic Games Inc., Riot Games and others, to inquire about their security protocols in handling Americans’ personal data, said the people, who asked not to be named because the discussions are private.

Tencent, the world’s largest gaming company, owns Los Angeles-based Riot and has a 40% stake in Epic, which is the maker of the popular video game Fortnite. Representatives for the companies declined to comment or didn’t immediately respond. The Treasury Department declined to comment.

The inquiry builds on the Trump administration’s heightened scrutiny of Chinese companies and their ties to U.S. firms -- a source of fresh tension with the Beijing government and a pillar of President Donald Trump’s reelection campaign. Tencent’s American Depositary Receipts fell 2.4% to $66.66 on the news.
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25.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 14:11
25.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 14:11
Sep 18, 2020, 14:11
 
Orogogus wrote on Sep 18, 2020, 12:12:

I mean, why is English taught in so many countries, including China? It's not because they were all conquered. The argument for everyone speaking Chinese would be that China would take up the mantle of the world's leading economy, making Chinese the lingua franca of commerce.

I think there are serious barriers to learning pictogram-based languages like Chinese or Japanese that don't exist for Western languages, though.

Where do you see a history of the Chinese culture reaching out to control as much as possible? A lot of their history is isolationist and xenophobic, and being beaten up and exploited by the Mongols, the Western powers and the Japanese. The situations in Tibet, Xinjiang, Taiwan and the "South China Sea" might not be great, but there's a huge gulf between that and say, Britain taking India, or the Mongol Empire.

That's absolutely a very valid point. I think the difficulty China has on that front is their tendency to use fear and intimidation rather than friendship and co-operation to drive economic partnerships. It's definitely true that they have a lot of leverage over many economies, but changing economic models entirely generally is due to some true level of partnership and trust, not pure extortion. As their power grows, I could be proved a fool but as of today I stand by my assessment that countries would rather promote economic freedom and co-operation than allow themselves to be bullied indefinitely.

There are a number of examples, and though this is not everything, it's a reasonable summary:
https://en.wikipedia.org/wiki/Chinese_imperialism

The differences between the Chinese imperialism and Britain and the Mongol Empire are most definitely drastic, but that's due mostly to the fact that they were not militarily, economically, or technologically capable of doing more than they did at that point in history. Again, they hit some kind of external barrier which forced them to alter or modify plans of expansionism. This is the history that I have read and been taught, but obviously there are multiple sources for these types of things. I'd be interested in reading the sources you've read regarding these periods in history.
24.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 12:12
24.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 12:12
Sep 18, 2020, 12:12
 
Julian Delphiki wrote on Sep 18, 2020, 10:44:
RedEye9 wrote on Sep 17, 2020, 22:10:
The instant the United States defaults on one cent of debt it legally owes will be the beginning of the end of America as we know it.

Any person even thinking it would be "cool" should immediately start taking chinese language lessons.

I'm not understanding your logic. Even if economic collapse happened in the United States for any reason, our culture would not suddenly swing to speak Mandarin. Despite numerous evil acts, and as much influence as they have on politics, academic institutions, and media, they will never attack the United States in a World War scenario, which is the only thing I can picture that would lead to us speaking their language. It's the exact same as it was during the Cold War, mutually assured destruction. They try anything major against the United States and they are wiped out. They don't have an ability to stop the nuclear triad and neither does the United States. The Chinese culture has a history of reaching out to control as much as possible until something stops it, so the real question is how much global influence will people allow them to have before that advance is halted. The United States will still be around speaking english until we are completely wiped out with a nuclear or biological attack, in which case, whoever attacked is also wiped out. The Chinese are aggressive and addressing what they believe is a mandate to control more of the globe, but they aren't stupid.

I mean, why is English taught in so many countries, including China? It's not because they were all conquered. The argument for everyone speaking Chinese would be that China would take up the mantle of the world's leading economy, making Chinese the lingua franca of commerce.

I think there are serious barriers to learning pictogram-based languages like Chinese or Japanese that don't exist for Western languages, though.

Where do you see a history of the Chinese culture reaching out to control as much as possible? A lot of their history is isolationist and xenophobic, and being beaten up and exploited by the Mongols, the Western powers and the Japanese. The situations in Tibet, Xinjiang, Taiwan and the "South China Sea" might not be great, but there's a huge gulf between that and say, Britain taking India, or the Mongol Empire.

This comment was edited on Sep 18, 2020, 12:22.
23.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 11:44
Slick
 
23.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 11:44
Sep 18, 2020, 11:44
 Slick
 
Are we at war with Eurasia or Eastasia?

Nice that we can turn our ministry of truth televisions off at least. See it's not all bad!

Other than living in a waking nightmare where parts of the world are on fire and literally look like Blade Runner 2049, military police wanted to use heatrays on peaceful protestors so Trump could get a photo-op in front of a church, and Scientific American breaks a 175-year non-partisan streak by having to endorse Joe Biden simply because he isn't anti-science.
For your transgressions you shall be labeled a shill, called an idiot and anytime you mention facts or disagree with a tribe member you will henceforth be known as a troll. The best you can hope for is that the labels won't haunt your offspring. -RedEye9
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22.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 10:44
22.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 10:44
Sep 18, 2020, 10:44
 
RedEye9 wrote on Sep 17, 2020, 22:10:
The instant the United States defaults on one cent of debt it legally owes will be the beginning of the end of America as we know it.

Any person even thinking it would be "cool" should immediately start taking chinese language lessons.

I'm not understanding your logic. Even if economic collapse happened in the United States for any reason, our culture would not suddenly swing to speak Mandarin. Despite numerous evil acts, and as much influence as they have on politics, academic institutions, and media, they will never attack the United States in a World War scenario, which is the only thing I can picture that would lead to us speaking their language. It's the exact same as it was during the Cold War, mutually assured destruction. They try anything major against the United States and they are wiped out. They don't have an ability to stop the nuclear triad and neither does the United States. The Chinese culture has a history of reaching out to control as much as possible until something stops it, so the real question is how much global influence will people allow them to have before that advance is halted. The United States will still be around speaking english until we are completely wiped out with a nuclear or biological attack, in which case, whoever attacked is also wiped out. The Chinese are aggressive and addressing what they believe is a mandate to control more of the globe, but they aren't stupid.
21.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 10:44
Cutter
 
21.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 10:44
Sep 18, 2020, 10:44
 Cutter
 
Saboth wrote on Sep 18, 2020, 06:59:
So Trumpy's going to start attacking Chinese companies based on "national security" (which apparently gives him unlimited power to do as he wishes) without any evidence of wrongdoing (as usual).

Given China's history of spying and IP theft in particular it's entirely warranted, not to mention their track record on human rights. We may fall short most of the time but they're an autocratic dictatorship. That's no bueno anyway you slice it. I'd isolate and sanction China entirely if I had my way. Russia too. Whatever his reasons he's actually doing the right thing here.

"Hot air hangs like a dead man, from a white oak tree. People sitting on porches, thinking how things used to be. It's a dark night...dark night."
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20.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 09:37
Slick
 
20.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 09:37
Sep 18, 2020, 09:37
 Slick
 
I gotta say, I enjoy the tone of discourse when it comes to global economic and political issues on Blues. It's as if we all have this hidden capacity for civility that we all conveniently ignore when the subject is about silly video games.
For your transgressions you shall be labeled a shill, called an idiot and anytime you mention facts or disagree with a tribe member you will henceforth be known as a troll. The best you can hope for is that the labels won't haunt your offspring. -RedEye9
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19.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 09:15
Verno
 
19.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 09:15
Sep 18, 2020, 09:15
 Verno
 
Nucas wrote on Sep 18, 2020, 00:01:
the TPP would have addressed china's ip theft. they've just grown too big for america to try to swing its dick around unilaterally and expect effective results.

Indeed. China has made it a policy to promote Chinese businesses first and foremost in its home markets, which is really code for businesses that Beijing backs directly. They actively interfere with foreign businesses attempting to establish themselves in their markets. They do it with policy, they do it with regulation and they do it with state sponsored espionage and IP theft. Incredibly they also abuse our legal systems to establish themselves here, influence our policies and cry foul if they are retaliated against. I'm not a fan of the current administration but this sort of thing had to happen whether it was a Democrat or a Republican enacting it. There needs to be pushback against China, it has used the worst aspects of capitalism without adopting western values. Unfortunately China will probably continue deleveraging itself as they position the yuan more as a global currency.

Playing: Risk of Rain 2, Jedi Fallen Order, Last of Us II
Watching: Tenet, Peninsula, The Pale Door
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18.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 06:59
18.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 06:59
Sep 18, 2020, 06:59
 
So Trumpy's going to start attacking Chinese companies based on "national security" (which apparently gives him unlimited power to do as he wishes) without any evidence of wrongdoing (as usual).
17.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 06:27
17.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 06:27
Sep 18, 2020, 06:27
 
Another day, another shake down.

Boss Tweed would approve.

If the morbidly obese LUMP-POTUS was ever got serious about China, Walmart shelves would be 90% empty.
"Meet the new Boss, same as the old Boss." - The Who.
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16.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 05:17
16.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 05:17
Sep 18, 2020, 05:17
 
El Pit wrote on Sep 18, 2020, 01:49:
"Economy can never work with communism!"
"Damn, this communist economy is working - we need to get them off the free market and out of competition to keep the markets free and open for competition!"


You know the Chinese Communist Party banned foreign competition inside China right? You literally cannot sell your games or films in China unless you go through the party, put a communist party member on your board or give them partial ownership over your company or brand. That's is not a free market.
They're also notorious for IP theft, If you have issues with them you have no legal recourse because the court system is fake and always comes down on the side of the communist party.
They also force you to adopt CCP politics in your products (The illegal 9 dash line for example).

It really blows my mind that the Chinese dictatorship can literally ban all foreign competition and then steal everyones IP and tech, But if a western nation investigates them for laws they've broken people start whining about how unfair it is. Imagine how upset they would be if we treated them as they treat us.
And as someone who hates communism even I will acknowledge that this isn't communism, Its ultra corrupt state capitalism.
15.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 02:27
15.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 02:27
Sep 18, 2020, 02:27
 
Darks wrote on Sep 17, 2020, 21:51:
Definitely not a good time to be a Chinese company. But this is been brought on themselves after years of IP thieving. The U.S. has definitely come to a boiling point with China.

Also, with all the IP stealing the Chinese have done over the past 10 years, do you really think the Govt would pay them a single Penney? If you do, then your delusional. China can considerer that debt paid in full.

Thanks for showing us that you have have absolutely no idea how international politics works.
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14.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 01:49
El Pit
 
14.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 01:49
Sep 18, 2020, 01:49
 El Pit
 
"Economy can never work with communism!"
"Damn, this communist economy is working - we need to get them off the free market and out of competition to keep the markets free and open for competition!"

"There is no right life in the wrong one." (Theodor W. Adorno, philosopher)
"Only a Sith deals in absolutes." (Obi-Wan Kenobi, Jedi)
13.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 01:10
13.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 01:10
Sep 18, 2020, 01:10
 
China, even if they could, would not call in all our debt. One, we couldn't pay it, which means a default, and that means they probably won't get a dime. Two, it would crash the world economy since we are the #1 customer of a lot of nations. Three, we are the world's top food exporter by twice the amount of the second best country (Netherlands). China produces more food overall, but they consume the bulk of it. So countries other than China would likely step in to prop us up, so as to not have a worldwide famine.
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12.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 18, 2020, 00:01
12.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 18, 2020, 00:01
Sep 18, 2020, 00:01
 
Dev wrote on Sep 17, 2020, 23:20:
On the one hand, this is something that should have been looked at long ago.

On the other hand, it should have been done by law, part of an internet privacy package like GDPR, passed by a congress with a clue and a spine, not because someone got a bug up their ass because they heard a company was hosting some politically critical videos. Or whatever was the reason.

the TPP would have addressed china's ip theft. they've just grown too big for america to try to swing its dick around unilaterally and expect effective results.
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11.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 17, 2020, 23:20
Dev
 
11.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 17, 2020, 23:20
Sep 17, 2020, 23:20
 Dev
 
On the one hand, this is something that should have been looked at long ago.

On the other hand, it should have been done by law, part of an internet privacy package like GDPR, passed by a congress with a clue and a spine, not because someone got a bug up their ass because they heard a company was hosting some politically critical videos. Or whatever was the reason.
10.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 17, 2020, 23:18
Dev
 
10.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 17, 2020, 23:18
Sep 17, 2020, 23:18
 Dev
 

Scottish Martial Arts wrote on Sep 17, 2020, 21:01:
Jaxx wrote on Sep 17, 2020, 20:52:
If they call that debt in, our economy is absolutely screwed.

That's not how treasury bonds work.
No, BUT, all they have to do is stop buying the NEW debt/bonds we keep selling, that would kill us. Same effect, different syntax.
9.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 17, 2020, 22:59
Kxmode
 
9.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 17, 2020, 22:59
Sep 17, 2020, 22:59
 Kxmode
 
"Leave the past behind
Just walk away
When it's over
And the cracks begin to show"
source
"Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times." - Those Who Remain by G. Michael Hopf
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8.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 17, 2020, 22:49
8.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 17, 2020, 22:49
Sep 17, 2020, 22:49
 
RedEye9 wrote on Sep 17, 2020, 22:10:
The instant the United States defaults on one cent of debt it legally owes will be the beginning of the end of America as we know it.

Any person even thinking it would be "cool" should immediately start taking chinese language lessons.

this is like a shockingly high number of people who don't have basic financial literacy.

i almost can't blame people for not knowing this basic market and investing literacy because they didn't teach this even back when i was in high school in the 90s.

but still guys you should probably know this from spending a weekend with like any basic personal finance book.
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7.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 17, 2020, 22:10
7.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 17, 2020, 22:10
Sep 17, 2020, 22:10
 
The instant the United States defaults on one cent of debt it legally owes will be the beginning of the end of America as we know it.

Any person even thinking it would be "cool" should immediately start taking chinese language lessons.
A mask is an IQ test
"All of humanity's problems stem from man's inability to sit quietly in a room alone." Blaise Pascal
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6.
 
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections
Sep 17, 2020, 21:51
Darks
 
6.
Re: US Treasury Department Scrutinizing Riot and Epic over Tencent Connections Sep 17, 2020, 21:51
Sep 17, 2020, 21:51
 Darks
 
Definitely not a good time to be a Chinese company. But this is been brought on themselves after years of IP thieving. The U.S. has definitely come to a boiling point with China.

Also, with all the IP stealing the Chinese have done over the past 10 years, do you really think the Govt would pay them a single Penney? If you do, then your delusional. China can considerer that debt paid in full.
Creator of the Neverwnter Nights Eye of the Beholder Series of Mods.

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