Hong Kong Protests, Nba, Us Companıes

Hong Kong Protests, Nba

Moment of truth on China is coming for rest of corporate America

Moment of truth on China is coming for rest of corporate America

10.10.2019

Moment of truth on China is coming for rest of corporate America

NEW YORK (BLOOMBERG) - Long before Daryl Morey's fateful tweet - the one that set the NBA on a collision course with China - the nation had a history of employing economic might to twist corporate arms in Asia.. Read more at straitstimes.com.

It was one of China's most aggressive efforts yet to bend a western company to its will, and it pins corporate officials between the imperative of profits and loyalty to open societies that nurture their businesses.

CRUCIAL MARKET China will be a big test of whether that's mere talk. For companies including Nike and Starbucks, the country is a crucial market that is only growing in importance. And the attention paid to China's behaviour probably will increase as US politicians rail against its rising power and human-rights abuses.

DEEP TIES The NBA has deep ties to China, striking a TV deal in the late 1980s and now claiming that 500 million people there watch its programming. The Rockets gained traction thanks to former player Yao Ming, a 7-foot-6 star who now heads the Chinese Basketball Association.

Chinese-owned companies quickly distanced themselves from the NBA. Sponsors including China's largest sportswear maker, the second-biggest dairy business, a smartphone brand and a local joint venture of Nissan Motor all pulled out. State television CCTV and tech giant Tencent Holdings said Oct 8 they wouldn't show the preseason games.

"They are upset that others don't show them the respect they think they deserve," said Mr Kennedy, who has studied China for three decades."They are certainly proud of their achievements but at the same time don't think it's gained them any international legitimacy in the west."

"The NBA can afford to walk away from North Korea," Mr Rollert said."It's harder to walk away from China, and that's why this is such a significant problem."

Meanwhile, the chief executive officer for competitor Epic Games, the manufacturer of Fortnite, said it wouldn't have punished the player for expressing his views.

That's a situational tactic for the protests in the streets but not a coherent strategy as China wields its economic might.

Read more: The Straits Times

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