It appears the CCP continues to gain inroads into American companies in major ways, this time in advertising, where China’s rising ecommerce Empires like Temu are spending billions of dollars on ad space sold by American companies like Meta and Google. China as a client for Meta, for instance, already accounts for 10 percent of Meta’s business.
Excerpt from nytimes.com
… Meta, the parent company of Facebook and Instagram, said on a call with analysts that Chinese-based advertisers accounted for 10 percent of its revenue, almost double over two years ago. In the last year, Temu has placed about 1.4 million ads globally across Google services, and at least 26,000 different versions of ads on Meta, according to Meta’s Ad Library.
… The rush of spending by Temu and Shein has “single-handedly” driven up the cost of digital advertising, Josh Silverman, chief executive of Etsy, said on a call with analysts in November.
Discount Chinese e-commerce companies have grabbed increasing attention in the United States over the past few years, tempting buyers with low-cost goods when inflation was driving up prices.
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Paul Collier
Paul Collier is the editor of The Freedomist newsite, our Weekday Reports, and our Monthly Publication, Freedomist Intelligence Advisor (previously McAlvany Intelligence Advisor). He has been involved in news publishing since 2003.
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