I can see why they would be reluctant to cut the Americans off.
Once they spin it off, the original app will lose 50% of the value.
They'll be stuck with the Brits instead.
In one sense Xi could care less, as 60% of Bytedance is owned by global institutional investors, not the Chinese government. But the longer TikTok goes dark, the owners will see the value of their holding slipping and THEY will pressure Xi to make a deal to sell TikTok to U.S. interests. Trump’s threat to let TikTok go dark is directed at Xi, but unless it becomes an actuality, not just a threat, Xi is not giving in.
I can see why they would be reluctant to cut the Americans off.
Once they spin it off, the original app will lose 50% of the value.
They'll be stuck with the Brits instead.