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This is story of 2 parallel universes. Over in the western one, neoliberal industrialism rules. In the other the Chinese universe a various system administers. In both universes, government issue over the growing power of giant tech companies has been growing for a while, but there the similarities end. In the west, federal governments and legislatures were asleep at the wheel as the tech companies zoomed along their quick development paths.

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Given that 2010, for instance, Europe has actually introduced more than 36 regulative probes against big tech, including 10 from the European commission and 26 from individual European nations. I keep a spreadsheet of these actions, which, in addition to the EU fits, presently notes 7 significant actions by US authorities, 3 by the UK Competition and Markets Authority and two by the German federal cartel office.

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The kindest thing one might say about this flurry of regulatory activity is that it does not have coherence and consistency. In July, for instance, two antitrust suits versus Facebook filed by some US states and the Federal Trade Commission were summarily thrown away by the judge for what, lawfully speaking, are elementary schoolboy mistakes, such as stopping working to offer facts that would support the claim that Facebook had a monopoly in social networking.

As Frederic Filloux, an experienced observer of these things, puts it: "Ask any specialist, they will inform you that Facebook is the most harmful player in the digital world. The social network's organization model is based upon fracturing society, spreading incorrect details varying from the 'stolen' election of 2020 to anti-vax propaganda.

And although the function of antitrust prosecution is to restructure markets, so far its only results in the west have actually been allegedly tremendous fines (small modification for tech giants) and years and years of interminable legal procedures. How  top gadgets all  are over in the Chinese universe. There, the nation's tech giants have lost their swagger and a few of their hitherto-esteemed leaders have disappeared from public view.