This week the talk of Sino-American conflict is ramping up, this time with social network giant TikTok at the center. The Chinese company has been gaining popularity over the past year and has now caught up to American-based social media. Thus, President Trump decided to involve it in his campaign against China by banning TikTok in the United States.
It was later announced that a US company could purchase TikTok in order to make it available in the United States again. Several companies are already negotiating with the medium, most notably Microsoft. However, Trump set a time limit of 45 days for a deal to be reached, and has also made controversial claims about the government getting a share of the sale profit, which is unprecedented and probably unfeasible.
China has reacted quite negatively to these developments, which it sees as blackmail attempts by the US. Chinese media are presenting the possible sale of TikTok to a US company as intellectual property theft.
Besides the harsh exchanges between the US and China, investors also remain quite wary of the coronavirus still. The number of cases worldwide is approaching 18.5 million, of which 4.8 in the United States alone.
The number of new infections has dropped below 50,000 per day in the United States for the second consecutive day. This is slightly encouraging, but Anthony Fauci, who is the chief health official in the US where the pandemic is concerned, has stated that a new round of lockdowns is necessary to keep the situation under control, at least in the most heavily affected states.
The World Health Organization also expressed doubts that the few vaccines that are currently in the third stage of their clinical trials will be ready soon. WHO officials also reminded the public that getting a working vaccine might never be a possibility, especially considering how quickly the virus is evolving.
In other news, there is still no definitive plan for a stimulus package in the United States, as the two chambers of Congress stand divided on their respective proposals. The President could unveil his own plan in this case, but until that happens, millions of Americans will face financial strain.
