The TikTok Bill Targets China’s Cultural Influence. That’s a Big Shift from the Tech War.
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,839,384 (+0.39%)       Melbourne $1,112,698 (+0.31%)       Brisbane $1,239,032 (+0.41%)       Adelaide $1,124,729 (+1.41%)       Perth $1,059,750 (+0.24%)       Hobart $831,697 (-0.24%)       Darwin $874,845 (-1.71%)       Canberra $1,110,011 (-0.45%)       National Capitals $1,222,121 (+0.28%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $800,472 (-0.08%)       Melbourne $528,474 (+0.36%)       Brisbane $797,670 (-0.01%)       Adelaide $584,683 (-0.37%)       Perth $605,402 (-2.05%)       Hobart $554,533 (+0.44%)       Darwin $470,544 (-1.19%)       Canberra $485,095 (+0.11%)       National Capitals $627,512 (-0.30%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 8,625 (+7)       Melbourne 10,721 (-143)       Brisbane 5,186 (-18)       Adelaide 1,693 (-41)       Perth 4,550 (-44)       Hobart 794 (+5)       Darwin 88 (-3)       Canberra 797 (-6)       National Capitals $32,454 (-243)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 6,967 (-38)       Melbourne 5,813 (-78)       Brisbane 904 (-1)       Adelaide 262 (-1)       Perth 913 (-10)       Hobart 142 (+1)       Darwin 168 (+1)       Canberra 1,055 (+2)       National Capitals $16,224 (-124)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $580 ($0)       Brisbane $690 (+$10)       Adelaide $650 (+$8)       Perth $725 (+$15)       Hobart $595 (-$5)       Darwin $745 (-$5)       Canberra $710 ($0)       National Capitals $694 (+$3)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 (+$20)       Melbourne $590 (-$10)       Brisbane $680 (+$5)       Adelaide $550 ($0)       Perth $675 (-$5)       Hobart $495 (+$20)       Darwin $640 (+$10)       Canberra $595 ($0)       National Capitals $640 (+$5)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,782 (+459)       Melbourne 7,492 (+593)       Brisbane 4,368 (+663)       Adelaide 1,568 (+170)       Perth 2,281 (+189)       Hobart 199 (+50)       Darwin 90 (+12)       Canberra 487 (+21)       National Capitals $22,267 (+2,157)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,079 (+1,172)       Melbourne 6,743 (+1,111)       Brisbane 2,425 (+278)       Adelaide 453 (+63)       Perth 559 (+62)       Hobart 89 (+24)       Darwin 171 (+10)       Canberra 523 (-181)       National Capitals $20,042 (+2,539)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.26% (↓)       Melbourne 2.71% (↓)     Brisbane 2.90% (↑)        Adelaide 3.01% (↓)     Perth 3.56% (↑)        Hobart 3.72% (↓)     Darwin 4.43% (↑)      Canberra 3.33% (↑)      National Capitals $2.95% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND       Sydney 5.20% (↑)        Melbourne 5.81% (↓)     Brisbane 4.43% (↑)      Adelaide 4.89% (↑)      Perth 5.80% (↑)      Hobart 4.64% (↑)      Darwin 7.07% (↑)        Canberra 6.38% (↓)     National Capitals $5.31% (↑)             HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 1.5% (↑)      Brisbane 1.2% (↑)      Adelaide 1.2% (↑)      Perth 1.0% (↑)        Hobart 0.5% (↓)       Darwin 0.7% (↓)     Canberra 1.6% (↑)      National Capitals $1.1% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 2.4% (↑)      Brisbane 1.5% (↑)      Adelaide 0.8% (↑)      Perth 0.9% (↑)      Hobart 1.2% (↑)        Darwin 1.4% (↓)     Canberra 2.7% (↑)      National Capitals $1.5% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 31.4 (↑)      Melbourne 29.1 (↑)      Brisbane 29.9 (↑)      Adelaide 25.6 (↑)        Perth 33.8 (↓)     Hobart 27.2 (↑)      Darwin 29.7 (↑)      Canberra 31.0 (↑)      National Capitals $29.7 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 31.4 (↑)      Melbourne 30.9 (↑)      Brisbane 26.6 (↑)      Adelaide 24.3 (↑)        Perth 30.6 (↓)     Hobart 32.0 (↑)        Darwin 26.5 (↓)       Canberra 38.3 (↓)     National Capitals $30.1 (↑)            
Share Button

The TikTok Bill Targets China’s Cultural Influence. That’s a Big Shift from the Tech War.

By MATT PETERSON
Thu, Mar 14, 2024 9:23amGrey Clock 3 min

Congress’ new swing at social-media app TikTok might seem like more of the same old U.S.-China tech war that’s been running for several years—just that now it has come for dancing teens.

But what leading advocates of the new TikTok bill want would significantly expand the scope of the U.S. government’s interventions into the economy in the name of national security. The law would effectively ban TikTok if it didn’t change owners out of Chinese hands. The hallmark of China-focused regulation in recent years has been to keep American stuff—advanced technology, data, and intellectual property—out of the hands of the Chinese military. The TikTok bill would attempt to do something different: regulate companies’ ability to wield cultural power over Americans.

U.S.-China competition has already been hugely consequential for both countries’ economies and the world. Flows of trade, capital, information, and people between the two have fallen by 28% over the past decade, a report out today on the state of globalisation by logistics company DHL finds. The rise of industrial policy and other political interventions in markets are helping keep inflation high worldwide. Any expansion of regulation into new areas could add to that pressure.

To be sure, the bill is still far from becoming law. It passed the House today with overwhelming margins, but it must still pass the Senate and be signed into law by the president. Its advocates make a strong case that something really is new when it comes to TikTok. But given the stakes, it’s worth understanding exactly what that new thing is.

The bill’s leading advocates want it for two reasons . One, they argue TikTok is effectively a vast data-collection tool that can hand information about Americans directly to the Chinese Communist Party, whose requests TikTok’s management can’t refuse. This is a familiar issue in tech regulation. It is also why U.S. government employees aren’t allowed to keep the app on their phones.

The other issue is more novel. This is the idea that TikTok can be used “to mobilise public opinion,” as one of the bill’s lead sponsors, Rep. Raja Krishnamoorthi (D., Ill.), put it in a hearing with the leaders of the U.S. intelligence community on Tuesday.

Many TikTok users saw a pop-up last week urging them to contact Congress about the pending legislation, and quite a few did. Doesn’t that show exactly how the Chinese Communist Party could manipulate Americans, Krishnamoorthi asked? “While I can’t speak to the specific example,” responded FBI Director Christopher Wray, “I can tell you that the kind of thing you’re describing illustrates why this is such a concern.”

Avril Haines, U.S. director of national intelligence said that she couldn’t rule out that the CCP would use TikTok just like that to intervene in the 2024 election, something the intelligence community warned about in a new public threat assessment issued this week.

The TikTok legislation would resolve that worry not by taking away TikTok’s ability to influence Americans—only a full ban would do that. Instead, it would give the government leverage to force ByteDance, the app’s parent company, to hand ownership to an American company. Americans could still be influenced— Meta , X, and other social-media companies have been the target of other foreign-influence campaigns—but they could at least be more confident U.S. enemies aren’t secretly try to push them ideas.

TikTok’s leadership doesn’t see the issues this way. It believes the legislation is intended to ban the app, not just force divestment, and says it doesn’t take orders from the Chinese Communist Party in any case. Its CEO is from Singapore, not China, and the company is working with U.S. tech company Oracle to keep its data local to the U.S.

What no one seems to dispute is that TikTok really is wildly influential. Its 170 million users care deeply about what happens on the platform.

The question Congress is raising is whether some of TikTok’s users have been manipulated. This is a version of the argument Democrats made when it became apparent that Russia tried to intervene in the 2016 election to favor President Trump. The problem with that logic, as Republicans pointed out at the time, is that it’s not clear where it leads. If a bunch of Americans vote for the wrong reasons, does that mean the election is illegitimate? That’s a dangerous road to go down.

The point of the TikTok bill is to essentially head the debate off at the pass. Let there be no questions about the legitimacy of voting, because there wasn’t any illegitimate foreign influence behind it in the first place.

As Chris Fenton, a former Hollywood executive-turned-China critic who advised the bill’s sponsors, points out in an essay for RealClearPolitics , there is some precedent here. The Federal Communications Commission prohibits control of U.S. broadcasters by hostile governments. “Why should TikTok be an exception?,” he asks.

That’s the question the Senate will have to answer, while considering the costs of a major expansion of the U.S.-China fight and the risk that calling into question the political judgment of millions of U.S. social-media users will backfire in unexpected ways.

This decision will matter for much longer than the next dance craze.



MOST POPULAR

A long-standing cultural cruise and a new expedition-style offering will soon operate side by side in French Polynesia.

The pandemic-fuelled love affair with casual footwear is fading, with Bank of America warning the downturn shows no sign of easing.

Related Stories
Lifestyle
A TALE OF TWO VOYAGES IN FRENCH POLYNESIA
By Jeni O'Dowd 13/01/2026
Lifestyle
Cold Plunges Are Hot. But Can You Do It in Your Home Pool?
By ERIC GROSSMAN 09/01/2026
Money
The Casual Footwear Boom Is Over. It’s Bad News for Adidas.
By SABRINA ESCOBAR 09/01/2026
The Casual Footwear Boom Is Over. It’s Bad News for Adidas.

The pandemic-fuelled love affair with casual footwear is fading, with Bank of America warning the downturn shows no sign of easing.

By SABRINA ESCOBAR
Fri, Jan 9, 2026 2 min

The boom in casual footware ushered in by the pandemic has ended, a potential problem for companies such as Adidas that benefited from the shift to less formal clothing, Bank of America says.

The casual footwear business has been on the ropes since mid-2023 as people began returning to office.

Analyst Thierry Cota wrote that while most downcycles have lasted one to two years over the past two decades or so, the current one is different.

It “shows no sign of abating” and there is “no turning point in sight,” he said.

Adidas and Nike alone account for almost 60% of revenue in the casual footwear industry, Cota estimated, so the sector’s slower growth could be especially painful for them as opposed to brands that have a stronger performance-shoe segment. Adidas may just have it worse than Nike.

Cota downgraded Adidas stock to Underperform from Buy on Tuesday and slashed his target for the stock price to €160 (about $187) from €213. He doesn’t have a rating for Nike stock.

Shares of Adidas listed on the German stock exchange fell 4.5% Tuesday to €162.25. Nike stock was down 1.2%.

Adidas didn’t immediately respond to a request for comment.

Cota sees trouble for Adidas both in the short and long term.

Adidas’ lifestyle segment, which includes the Gazelles and Sambas brands, has been one of the company’s fastest-growing business, but there are signs growth is waning.

Lifestyle sales increased at a 10% annual pace in Adidas’ third quarter, down from 13% in the second quarter.

The analyst now predicts Adidas’ organic sales will grow by a 5% annual rate starting in 2027, down from his prior forecast of 7.5%.

The slower revenue growth will likewise weigh on profitability, Cota said, predicting that margins on earnings before interest and taxes will decline back toward the company’s long-term average after several quarters of outperforming. That could result in a cut to earnings per share.

Adidas stock had a rough 2025. Shares shed 33% in the past 12 months, weighed down by investor concerns over how tariffs, slowing demand, and increased competition would affect revenue growth.

Nike stock fell 9% throughout the period, reflecting both the company’s struggles with demand and optimism over a turnaround plan CEO Elliott Hill rolled out in late 2024.

Investors’ confidence has faded following Nike’s December earnings report, which suggested that a sustained recovery is still several quarters away. Just how many remains anyone’s guess.

But if Adidas’ challenges continue, as Cota believes they will, it could open up some space for Nike to claw back any market share it lost to its rival.

Investors should keep in mind, however, that the field has grown increasingly crowded in the past five years. Upstarts such as On Holding and Hoka also present a formidable challenge to the sector’s legacy brands.

Shares of On and Deckers Outdoor , Hoka’s parent company, fell 11% and 48%, respectively, in 2025, but analysts are upbeat about both companies’ fundamentals as the new year begins.

The battle of the sneakers is just getting started.

MOST POPULAR

Australia’s housing market defies forecasts as prices surge past pandemic-era benchmarks.

The PG rating has become the king of the box office. The entertainment business now relies on kids dragging their parents to theatres.

Related Stories
Property
Castle in surburban Melbourne on the market
By Kirsten Craze 24/10/2025
Lifestyle
One Man’s Quest to Reunite With His First Love: A 1971 VW Bug
By A.J. BAIME 01/12/2025
Lifestyle
Forget the Birkin: MAISON de SABRÉ Unveils The Palais
By Jeni O'Dowd 11/09/2025
0
    Your Cart
    Your cart is emptyReturn to Shop