In the name of protecting people from misinformation, China is targeting financial bloggers and shutting them down, allowing only the bloggers that reflect the official state financial positition. The move is now leaving investors with too little information to make any informed decision on what to invest it. The dangers of protecting people from misinformation is you end up promoting solely misinformation, that of the state.
Financial Blogger Crackdown Leaves China Investors Scrabbling For Data
From todayuknews.com
2021-09-16 03:19:09
Excerpt:
China has launched a crackdown on financial blogs and social media, a move that risks exacerbating the difficulty of obtaining reliable data about the world’s second-biggest economy.
The restrictions were implemented as fissures widened in the top echelons of Wall Street over whether investing in China was a smart bet.
A snowballing policy overhaul has caught seasoned China investors off guard, spooked markets and sparked questions over which sector would be targeted by Beijing next.
Last month the Cyberspace Administration of China embarked on a “special rectification” campaign. The internet regulator is clamping down on market sceptics and those who voice pessimistic opinions about the Chinese economy — as well as misinformation and malfeasance radiating from financial news services and social media accounts.
China-focused economists, analysts and academics acknowledged the problems caused by uninformed online commentary and rampant fraudulent activity. But they warned that over-reach from the campaign would also silence valuable voices that diverged from the official narratives promulgated by Beijing.
