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China wants to buy Facebook?!

This is a discussion on China wants to buy Facebook?! within the Members' Club Room forums, part of the China Defense & Military category; First off I do not do facebook. Facebook is for girls. Period. I do not visit any social networking sites. ...

  1. #1
    bd popeye's Avatar
    bd popeye is offline The Last Jedi
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    Exclamation China wants to buy Facebook?!

    First off I do not do facebook. Facebook is for girls. Period. I do not visit any social networking sites. Period.

    But I found this article interesting and worthy of a discussion...I think it's just a lot of speculation.

    China Wants to Buy Facebook - Gordon G. Chang - New Asia - Forbes

    On Thursday, Business Insider reported that China is trying to buy “a huge chunk” of Facebook.

    According to the business news website, Beijing approached a fund that buys stock from former Facebook employees to see if it could assemble a stake large enough “to matter.” Moreover, Citibank is rumored to be trying to acquire as much as $1.2 billion of stock for two sovereign wealth funds, one from the Middle East and the other Chinese. Business Insider reports a third source, from a “very influential” Silicon Valley investment bank, confirms that Citi is representing China.

    Should Beijing be allowed to buy a part of Mark Zuckerberg’s site? Business Insider tells us there is “little need” for concern about Chinese censors looking at the photos and postings of the 700 million people who trust Facebook with their personal online activity.

    First, China’s position won’t be large. A billion-dollar investment does not buy much influence in a site expected to be worth a hundred times that when it goes public. Second, Beijing will be acquiring nonvoting stock. Third, shareholders don’t get the right to look at what’s on the site. All of these arguments from Business Insider ring true.

    Yet they are all beside the point—and there are other reasons to be concerned. The business site says that “sovereign wealth funds are pretty distinct from their governments.”

    Perhaps Norway’s fund is, but not China’s. The Communist Party, despite three decades of economic reform, insists on its monopoly of political power. And to maintain that monopoly, it tightly controls its own instrumentalities. That’s especially true at this moment because the Party is in the midst of the most comprehensive crackdown on society since the 1989 Beijing Spring. Chinese leaders clearly view social media as a threat to their rule, especially after seeing its force-multiplying effect in the ongoing Arab Spring protests that have toppled governments.

    In short, China’s sovereign wealth fund, which is no more independent of the Communist Party than the Beijing municipal government, wants to buy a stake in the world’s most prominent social networking site because Chinese leaders want to control social media. And they hope to do that as part of their comprehensive campaign to dominate the conversation about China—not just inside the country but around the world as well.

    Beijing, during the last decade, announced initiatives to change discourse on foreign university campuses with its Confucius Institutes—now 322 of them—and Confucius Classrooms in elementary and high schools—369 of those. Moreover, its “go global” initiative is trying to affect news coverage of China by opening bureaus outside the country to internationalize state media, especially Xinhua News Agency, China Central Television, and People’s Daily.

    And this is where the Facebook founder is giving Beijing an opening. Zuckerberg visited China in December and is scheduled to return, perhaps in September, in his bid to access the world’s largest online community, 457 million at last count.

    “One big reason American firms stumble in China is that the government tends to favor locals when it comes to regulation,” Business Insider points out. “One way to make sure that doesn’t happen is to allow the government to own a stake.”

    Beijing wants to own stakes in foreign firms because it is trying to control them. Its ambitions may at the moment look unrealistic to us, but that does not mean swaggering—and strategic-thinking—Communist Party officials do not hold them.

    The cocky Chinese are not the only parties deluding themselves. Zuckerberg, in the words of one reporter, “believes that Facebook can be an agent of change in China, as it has been in countries such as Egypt and Tunisia.” After the disastrous China experiences of Yahoo and Google and the troubled history of Microsoft there—not to mention Beijing’s recent tirade against foreign social media—the Facebook founder appears both arrogant and naïve.

    Chief Operating Officer Sheryl Sandberg is reportedly “wary about the compromises Facebook would have to make to do business there.” If she loses her argument with Zuckerberg and Facebook enters China, the company will eventually be subject to demands to censor its sites, those both inside and outside China. That’s apparently why the Chinese want to own a big stake in Facebook. They are, in short, looking for control in the long run. No other explanation is consistent with the Party’s other media and “educational” initiatives.

    Of course, a Beijing-influenced Facebook will be hit by even more bad publicity—and inevitably defections. Other social networking sites will spring up to capture fleeing users. The genius of America is that its open and broad market eventually punishes the arrogant and the naïve by allowing choice.

    So who says MySpace is dead? Perhaps Rupert Murdoch sold it too soon.
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  2. #2
    siegecrossbow's Avatar
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    Re: China wants to buy Facebook?!

    They should probably unblock it first.

  3. #3
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    Re: China wants to buy Facebook?!

    Gerry, you should really get on it. Everyone under the sun is on it.

    On the original subject, I'm sure they are thinking of making some acquisitions to diversify their holdings. But let's face it, I don't trust what Gordon Chang says at all. However, a minority stake in facebook isn't a big deal. It might even help smooth out facebook's entrance into China's extremely competitive social sphere.
    airsuperiority likes this.

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    Re: China wants to buy Facebook?!

    Gordon Chang's an idiot. Period. -__-

    And facebook isn't just for girls

    IF China bought a stake in Fb it won't be significant at all, and this article is half fear mongering, half cheap shot to China at the same time. It would be funny if china bought all of facebook though, just for laughs.
    airsuperiority likes this.
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    Re: China wants to buy Facebook?!

    Quote Originally Posted by bd popeye View Post
    First off I do not do facebook. Facebook is for girls. Period. I do not visit any social networking sites. Period.
    If you are not married, then that's the benifit of using facebook, no?

  6. #6
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    Re: China wants to buy Facebook?!

    Was Gordan Chang first to report this? If so then he's just trying to create an outrage by making crap up.
    airsuperiority likes this.

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    Re: China wants to buy Facebook?!

    Lol, we're calling the Tienanmen Square massacre the "Beijing Spring" now?

  8. #8
    airsuperiority is offline Banned Idiot
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    Re: China wants to buy Facebook?!

    Quote Originally Posted by Bltizo View Post
    Gordon Chang's an idiot. Period. -__-

    And facebook isn't just for girls

    IF China bought a stake in Fb it won't be significant at all, and this article is half fear mongering, half cheap shot to China at the same time. It would be funny if china bought all of facebook though, just for laughs.
    Dislike, as in dislike the article. The author can't be more overtly ignorant, retarded, and biased. I mean wow, who even writes like that? For all I think, he's not even ready to write a restaurant menu.

    I also will oppose China getting its hands wet in facebook until they learn to unblock it first and will respect what it is and the community. That I'm referring to the users and the privacy and freedom of speech within it.

    After experiencing the great firewall when i was in chengdu, where i can't access forums in hk, youtube, facebook, or even porn, i hate chinese censorship even more

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    airsuperiority is offline Banned Idiot
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    Re: China wants to buy Facebook?!

    oh yea if u look up at this guy's profile, it'll tell you how much of a incurable basher he is. i do believe he can keep on dreaming of the day instability topples china, so he can keep on being disappointed with every each day

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    Re: China wants to buy Facebook?!

    Quote Originally Posted by airsuperiority View Post
    After experiencing the great firewall when i was in chengdu, where i can't access forums in hk, youtube, facebook, or even porn, i hate chinese censorship even more
    Heh.

    I don't think many people on this forum takes gordon chang seriously...
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  11. #11
    Engineer's Avatar
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    Re: China wants to buy Facebook?!

    Quote Originally Posted by airsuperiority View Post
    After experiencing the great firewall when i was in chengdu, where i can't access forums in hk, youtube, facebook, or even porn, i hate chinese censorship even more
    After experiencing the great firewall when I was in chengdu, where I can't access porn, I hate chinese censorship even more.
    Fixed that for you.

  12. #12
    airsuperiority is offline Banned Idiot
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    Re: China wants to buy Facebook?!

    Quote Originally Posted by Bltizo View Post
    Heh.

    I don't think many people on this forum takes gordon chang seriously...
    YES, PORN, the thing that truly matters.

  13. #13
    bd popeye's Avatar
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    Re: China wants to buy Facebook?!

    Gerry, you should really get on it. Everyone under the sun is on it.
    Don't care my friend.. Facebook is for girls. Jeff Head tried to get me on it a couple of years ago. No way...no how. Besides my wife spends enough time on it for the both of us. My pastor in my church feels the same way..when he joins, I'll join.

    If you are not married, then that's the benefit of using facebook, no?
    I'm married. Facebook is for girls.

    Was Gordan Chang first to report this? If so then he's just trying to create an outrage by making crap up.
    Exactly. He's just stirring the pot of China fear..That is what he does.
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    Re: China wants to buy Facebook?!

    Quote Originally Posted by bd popeye View Post
    My pastor in my church feels the same way..when he joins, I'll join.
    If it makes you feel better the pope's got a facebook page too.

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    Re: China wants to buy Facebook?!

    Haha, Facebook for girls...

    I remember one study claiming that men were "better" at social networking than women, as in they got more use out of it than whatever females were typically using it for. It's the kind of result that doesn't need any added marketing to get around, lol.


    FWIW, I don't have an account with Facebook either.
    Last edited by kyanges; 07-08-2011 at 01:43 PM.
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