中国媒体博克

Picture this: you are a Chinese businessman in Shanxi who deals with import/export to European countries. You base much of your decisions on news you receive from around the world so you know how to price your commodities. However you make a bad decision one day that costs you millions of RMB in losses. Why did you make that mistake? Because Xinhua News Agency did not provide you the same information that your foreign competitors had.

With the new proposed laws in China that would limit foreign news distribution in China, Chinese businesses will suffer. They will be at a disadvantage because they lack the same information and resources as their overseas rivals. Chinese businesses will not make intelligent decisions because of the paucity of their information.

Is this a smart move in China to make a law like this? Definitely not–it is a major step back in China and will harm Chinese interests around the world.

Pundits are guessing that this move was based on maintaining financial interests for Xinhua. This is most likely the reason for a rule like this. And though foreign agencies like Reuters and AP might be complaining about their losses, Zhongguoren will pay a heavier price for this short-sighted rule.