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MPNGF - How Is China's Crackdown On Big Tech Impacting Emerging Markets?
Meituan Dianping
The government is legislating to improve consumers’ data protection against private companies, and particularly tightening private companies’ ability to transfer sensitive data abroad.
We have seen a very rapid transformation of the opportunity set across emerging markets as the crackdown has intensified.
We have held the view for a while now that the valuation spread within emerging markets was extraordinarily wide and would eventually need to reverse.