Mark Zuckerberg Intends To Warn Congress About The Benefits Of China's Weakening Of Facebook
Facebook CEO Mark Zuckerberg will tell members of the lower house of the US Congress that any weakening of American high-tech companies will only play into the hands of competitors from China. As Bloomberg Law reported on Monday, Zuckerberg plans to defend this position when testifying before The House Judiciary Committee's Antitrust Policy Subcommittee on July 29.
The meeting, which is also scheduled to hear testimony from executives of Amazon, Apple, and Google, is being held as part of an antitrust investigation. Instagram Facebook's Chief Executive is going to explain to lawmakers the reasons behind the acquisition of the Instagram and WhatsApp platforms, as well as present his vision of the tactics of the company's Chinese rivals, according to Agency sources. Zuckerberg believes it is fundamentally important not to concede the competition to the Chinese side and not allow it to dictate its rules in the Internet market. If the US Congress decides to deal excessively harshly with American companies, their positions will weaken, allowing the Chinese to gain a foothold in such dynamically developing markets as India, the Agency quotes Zuckerberg's arguments.
The press service of The House Judiciary Committee confirmed on Saturday that the meeting mentioned above would take place on July 29. On June 13, Axios reported that the heads of the four listed companies were sent requests to testify before The US House of Representatives legal Committee.
In July 2019, it became known that the US authorities are preparing to launch a large-scale investigation into Amazon, Facebook, Google, and Apple to check for possible violations of antitrust laws on their part. According to Reuters, the powers in the proceedings will be divided between the US Federal Trade Commission, which has taken over the supervision of Amazon and Facebook, and the Justice Department, which handles the cases of Apple and Google. At the same time, Democrats in the House of Representatives announced the beginning of their investigation.