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Uber wasn't forced to sell their operations. They were bleeding cash in their competition with Didi for Chinese market share, so they made a deal. Didi took ove
by DiogenesKynikos 6y ago
Uber wasn't forced to sell their operations. They were bleeding cash in their competition with Didi for Chinese market share, so they made a deal. Didi took over Uber's operations, and Uber got a 15% stake in Didi.
Only certain sectors in China have joint-venture requirements. Over time, more and more sectors are being freed from those requirements. These sorts of regulations are allowed for developing countries under WTO rules.