In China, Europe and USA there seems to be a simultaneous war between Politics and Big Tech rather than the decoupling between two belief systems that I viewed initially (my blogs on decoupling). Technology and Politics are both in the Power domain of the 7 Belief systems (2016 version, 2019 update, my blogs). The outcome of this battle will determine their future. Who will win this war: Big Tech or Politics?
Besides Technology and Politics, there’s another belief system in the Power domain: Money. Whereas Politics and Technology are (highly) visible, Money is (highly) invisible as most money is digital/electronic. Moreover, Politics is bound to geographical borders. Both Technology and Money are cross-border in nature. Last but not least, Politics often has a short-term outlook (eg, elections), while Money has a (very) long-term outlook.
Businesses in any country will face political risk due to frequent changes (eg, elections, legislation). Businesses prefer countries with low political risk. The belief system Money aims to minimise its risk and maximise its reward (my blogs). The war between Politics and Big Tech will cause businesses to reassess their risk, for example from “live and let live” towards “live and let die” (eg, lyrics, video, Wiki).
The war between Politics and Big Tech also creates opportunities, like the Johan Cruyff saying that every disadvantage has its advantage. After its recent departure from the European Union, the UK may very well decide to profit from this 3-front war by stepping in as a white knight (eg, Singapore-on-Thames model). The UK’s refusal to back the US-Biden push for minimum corporate tax rates is foretelling (Reuters).
Yesterday’s Financial Times article is an enlightening example: “Sunak insists UK must bolster China ties as access to EU markets declines. Chancellor says City is well placed to serve Beijing’s financial services as hopes of regulatory deal with Brussels fade”.
None of these (very) large territories can afford losing its Big Tech sector. China is able to afford more crushing down of its Big Tech sector (ie, Baidu, Alibaba, Tencent, Xiaomi or BATX) because Chinese Big Tech companies are (i) more domestic and less international, and (ii) are also increasingly facing international trading restrictions following their ties to the Chinese military (eg, CEO of Huawei).
The 3-front and bipartisan war between Politics and Big Tech has only just started and will (likely) take several years to finish. However, this war has more options than just comply or die. A Big Tech business shuffle will only take one company to start, like Apple Inc. moving to London. The rest will follow.
I think, feel and believe that Big Tech will win because the combination of the 2019 belief systems Data/Info, Money and Technology is just too powerful. That fact is even the very reason why three (very) large territories are fighting this war. If I’m right then this will be the end of Politics as a belief system. Also see my blogs on the redundancy of politics.
The Wall Street Shuffle (1974) by 10cc
artists, lyrics, video, Wiki-1, Wiki-2
Note: all markings (bold, italic, underlining) by LO unless stated otherwise.
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