Chinese tech giants are looking at options in the European market to challenge Amazon.
Expansion strategy in Europe; Image: The Information
Bytedance, the company that owns TikTok is now looking at opportunities in the European market. Pinduoduo, an e-commerce platform, is also looking around for opportunities.
The two companies want to claim the European market for themselves and want to compete with Amazon. Bytedance wants to offer products as cheaply as possible, as does Pinduoduo. Europe seems to be one of the best options.
Bytedance's subsidiary "If Yooou" already delivers to Germany, France, Spain, Italy and the United Kingdom. However, it remains to be seen whether Chinese competition will triumph over Amazon.
The U.S. may not be an option, as the Biden administration is obviously opposed to Chinese products. Even under Trump, tough export laws have already been brought into being.
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