TikTok: Is time running out for Chinese apps?

TikTok is having a bit of a moment.Coinciding with its raging popularity, TikTok’s CEO has been facing a US congress hearing over security concerns stemming from its Chinese parent company, Bytedance. We’ve already seen countries like New Zealand, France and the UK banning TikTok from government devices. Yesterday, Australia also joined in banning the app from government devices. The US government though is considering banning TikTok entirely unless it sells its American arm of the business, despite around 100 million Americans using the app every month. Government officials say the app is feeding propaganda to American citizens and could be sharing sensitive information with the Chinese government. TikTok says it isn’t. Realistically, we don’t know the answer. But here's the thing - TikTok may just be the tip of the iceberg. There are a number of other Chinese-made apps that are fast growing in popularity. In March, four of the top five downloaded apps in the US were Chinese.Today Darcy and Sascha ask - if we ban TikTok, will we need to ban all Chinese developed apps? Tell us what you think of The Dive - email us at thedive@equitymates.com. Follow our Instagram here, or find out more here.  Stay engaged with the Equity Mates community by joining our forum. In the spirit of reconciliation, Equity Mates Media and the hosts of The Dive acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. *****This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697.The Dive is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.