Think U.S-China tensions are bad for business? Try China-India
Tensions between India and China are flaring up. Collateral damage is showing up in surprising places.
Investors are used to thinking of U.S-China tensions as the big, scary business risk in Asia. But increasingly, friction between the two largest developing Asian economies will be important too. Just ask the Singaporeans.
Earlier this week, the Indian government banned 54 mostly Chinese apps on security concerns including those published by Tencent and Alibaba. The country previously banned 59 Chinese apps and games, including TikTok and WeChat, in 2020.
Curiously, among the banned list this time is a game called “Free Fire” owned by New York-listed Sea Ltd., a Singaporean company. In fact, Sea was initially a beneficiary of the Indian ban of Chinese games two years ago. “Free Fire” took over as the country’s most popular mobile game after PUBG Mobile,…
