this post was submitted on 23 Nov 2023
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Why would the government have to own them? Plus, it's China. The government can persuade pretty much any national company to do their bidding. Sometimes they even persuade foreign companies to do their bidding *cough* Google Apple *cough*
Because it’s kind of hard to eminent domain the subject of an ongoing legal battle?
Really? The "communist" government that builds highways around the homes of people who don't want to move, disappears business owners who don't fall in line with the party mandate, and forces private companies to spy in their interest will find it "kind of hard" to nationalize resources of a private company?
I'd like to remind you that China isn't Europe or the US.
You will note that none of thouse things might involve repossessing things party members might own a stake in the same way that they would a failed company.