"Tiktok's logo was all over the October Asia-Pacific Economic Cooperation summit in South Korea, perhaps the region's most important diplomatic get-together. Videos touted the social media platform's ability to elevate creators, while an exhibition booth played a constant stream of short videos. TikTok executives onstage highlighted the billions of dollars its platform generates in Asia and promised to build "a trusted digital ecosystem.""
"Yet the real action involving TikTok was taking place 50 miles to the south, in Busan, where U.S. President Donald Trump and Chinese President Xi Jinping were locked in discussions over the future of U.S.-China trade- and, potentially, the fate of TikTok's U.S. operations. For years, U.S. officials have warned that TikTok's Chinese ownership gives Beijing access to U.S. user data and the power to meddle in U.S. affairs by tweaking the social media platform's algorithms."
TikTok displayed a prominent presence at the Asia-Pacific Economic Cooperation summit with logos, videos, an exhibition booth, and branded swag, stressing creator elevation and billions in Asia-generated revenue while pledging to build "a trusted digital ecosystem." Creators described the platform as a livelihood and a way to reach hundreds of millions. Simultaneously in Busan, U.S.-China discussions focused on trade and the possible fate of TikTok's U.S. operations. U.S. officials warned that Chinese ownership could grant Beijing access to U.S. user data and the ability to manipulate algorithms, prompting a divestor-ban law that pressures ByteDance to sell the app; U.S. officials later announced an American investor consortium takeover of TikTok's U.S. arm with China offering guarded cooperation.
Read at Fortune
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