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Chinese ride-hail giant Didi Chuxing files for IPO

Chinese ride-hail company Didi Chuxing filed for an initial public offering on Thursday.

Why it matters: Didi is not only known as the Uber of China, but actually beat Uber in the country and bought out its business there.


Financials: The company reports a $1.7 billion loss on $21.6 billion in revenue for 2020.

  • It plans to list on either the New York Stock Exchange or Nasdaq under ticker symbol "DIDI."

This is a breaking story. Check back for more details.

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China pushes for hegemony with Hong Kong security's law extraterritorial threat

All multinational companies and executives need to worry about breaking U.S. law, no matter where they're based or doing business. Now, they need to worry about Chinese law, too.

Why it matters: The projection of U.S. norms and laws around the world has been an integral (and much resented) part of America's "soft power" since 1945. As China positions itself to replace the USA as global hegemon, expect it to become increasingly assertive along similar lines.

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