Opium Wars

Opium Wars

It was another disastrous day for one of the world's most influential stocks. Tencent plunged double-digits to a 14-month low at one juncture, before trimming losses to "just" 6% amid more regulatory rumblings out of Beijing (figure below). Online games are "electronic drugs" akin to "spiritual opium," the state-run Economic Information Daily said, in a scathing article calling for more regulation, including enhanced content review and unspecified "punishments." Among those cited: A student, w
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2 thoughts on “Opium Wars

  1. FYI it appears that reaction might be a bit more than was desired. As you noted, the story was taken down. It is now back up, but a bit more mild in its tone.

    Eunice Yoon
    @onlyyoontv
    ·
    1h
    But wait it’s back! #China state media report criticizing video games returns online— with new boring title “Online Gaming Grows Into Industry Worth Hundreds of Billions of Yuan”. Scraps harsh words games are “opium of the mind”, “electronic drugs”

  2. CCP doesn’t want to tank TCEHY share price, just force change in biz practices, so once the message is received and acted on, the soothing of investors begins. Similar to soothing in days after EDU etc were gutted.

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