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Wall Street Journal Editorial Board member Mary Kissel on China’s stricter regulations on the internet.
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-- -- -- After -- turnover in the leadership of China's Communist Party that country is unveiling new Internet regulations today creating even tighter restrictions and now allowing entire posts and pages to be deleted.
If they're deemed to be.
Illegal now what does this Internet reform mean for the people of China.
For companies doing business there joining us to discuss all this Mary kissel wall street journal editorial board member.
And it do we -- the transition of power in China and everyone thought this new regime was the more enlightened is the perhaps the less.
Strict and restrictive Communist.
Regime but it seems as if four legs bad two legs good still is in play.
-- -- in this regime is really no different from the last one this is a cat and mouse game the China has been playing with Internet users -- -- unit was introduced.
To China a couple of decades ago so.
If this is just the latest in the series of restrictions unit pages can already be blocked.
That's usually foreign web sites but what China's discovering ironically enough.
Is that it's -- the outside world.
That they need to be afraid of it's actually the Chinese people themselves who want more freedom so -- Investors who are looking at companies in China or who are doing business in China this would seem to -- to be the beginning of a real problem you cannot -- mention to you during the commercial break this book why nations fail.
You cannot have.
Economic growth but political exclusion and much of god and China's 82 million members of the Communist Party who all enjoyed the benefits in the prosperity of their economy.
Your paper has been doing the expose a about a 160 members the people's paradise Politburo who are getting incredibly wealthy.
And -- their own citizenry understands they are being robbed and don't they eventually rise up.
They they do with the increased fallacy about -- that somehow all of the Chinese people are happy because the country is seen such a great expansion.
Of wealth and prosperity since the since they opened up to the rest of the world in the early eighties but the truth is that this is a very very corrupt regime.
From top to bottom and what the Internet has allowed the Chinese people to do was to expose that corruption.
We saw earlier this year with those you -- he was rising star in the Chinese party.
He was taken down the blind lawyer who's now living here in New York City well he was very famous on the Internet.
And has become even more so since he's come Ben here.
So they've -- -- -- have an issue because they need need to curb corruption but they don't have the tools to do written cracking down on the Internet is going to -- and even -- So wouldn't be in the regime's best interest to allow this free flow of information in the Chinese citizens to call up the corruption they witness having heart of because -- -- -- Adam not not if you're one party state you're right -- you were sitting here in the United States it's democracy it's different.
Have a question for for investors is what kind of companies might be hit by this.
My point you -- micro blog operators -- on which operates thug and a Twitter like site wave -- You know you have to be where these Chinese stocks are -- -- been very volatile they're subject to weak rule of law.
Regulation which is very very difficult to predict so here you go yet another example of the risks of investing in China.
All right Mary kissel we appreciate your being here I know all the sort -- -- are watching right now so we wish them happy new year happy new year.
