HONG KONG—As Trump and China hawks lock horns with Beijing on TikTok, trade, and Huawei, the Chinese Communist Party and its leader Xi Jinping are threatening to target U.S. companies with similar nationalistic bans—and signalling to Chinese firms at home that they expect total loyalty.
Private Chinese companies that have managed to establish a foothold on U.S. shores increasingly rely on the CCP’s backing, particularly when the Oval Office decides to place them within its crosshairs. Some do this by choice, others because they have no other option when they head overseas. In any case, in Xi’s view, they are one clan, one tribe, and they need to stick together, with the party at their core.
Speaking to entrepreneurs in 2018, Xi indicated that the public and private sectors in China are, in his view, one and the same.