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Both China and Europe Issued Data Security-Related Law, Why Does the US NOT Have Such A Bill?

Tiger Newspress2021-08-20

China's National People's Congress on Friday passed a law designed to protect online user data privacy and will implement the policy from Nov. 1, which is the second law in the world against data privacy. The world's first and currently the most influential related law is the General Data Protection Regulation ("GDPR" for short) implemented by the European Union in May 2018. Let's primarily focus on the similarities and differences between the two laws of China and Europe.

In terms of background, both China and European laws are formulated to deal with the collection and use of personal data by technology companies. In terms of content, both two laws include two aspects: (1) the requirements for the use of data within the country; (2) the requirements for the data to be exported abroad. From the view of specific regulations, China's sensitive personal information has a broader scope than GDPR. Why? Because the technology has been developing, and data that was not covered by the EU's law three years ago may now become a method for technology companies to profit. From the perspective of fines, the two laws are very similar, and both adopt the percentage of annual income as a reference. Specifically, the law issued by China decides a fine of 5% annual income, while that of EU law is 4% annual income.

Compared to China and Europe, the United States is the country that suffers the most from data abuse by technology companies. From a domestic perspective, the 2016 U.S. election was impacted by the abuse of user data by Facebook and Cambridge Analytica, which directly affected the result of the U.S. election. From an international perspective, American companies are often harassed by international hackers. Therefore, the United States should have promoted data privacy protection. However, the reality we see is not the case.

1. The main motive for Europe to promote the "GDPR" is to fight against American technology companies. Unlike China, most of the Internet technology products used by the people in Europe are provided by Americans, such as Alphabet and Apple. In recent years, the European Union government has been very unwelcome to American technology companies. Hence, the direct motive for the introduction of the "GDPR" is to confront American technology companies. American politicians also realized that the global Internet has been monopolized by American companies, and there is no need for the country to regulate these companies when Europeans are trying every means to cope with them.

2. U.S. technology companies make great contributions to U.S. politics, serving as the benefactors of U.S. politicians. Facebook and Amazon spend nearly $20 million each year to influence politicians, making the first and second place in the rankings (pictured below). Looking at the cost, it is easy for us to understand why Facebook can affect the US election result.

Internally, the US Congress turns a blind eye. Externally, US technology companies are a weapon for US expansion. As a result, the country will not issue such a bill to restrict its technology companies.

Although there is an invisible, tacit "agreement" between the U.S. government and technology companies, the two sides will not collaborate closely. Or else, it will trigger a strong backlash from the public. A recent case that has caused frantic discussion on data privacy in America is Apple's revision of privacy on the iPhone. The company plans to scan iPhone photos to identify and report collected child sexual abuse images. The move was welcomed by the children's protection organizations, but it was criticized by more people, thinking that Apple's action would help the government to snoop on personal privacy. Otherwise, Apple once fought hard against the FBI's requirements and has repeatedly refused to unlock the terrorist's iPhone. So, technology companies in the United States must keep a distance from the US government, and the government will not reach out to those companies.

Proper respect and concern may be the secret for the government and technology companies to coexist.

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Comment21

  • robot1234
    ·2021-08-23
    Both China and European laws are formulated to deal with the collection and use of personal data by technology companies. Both two laws include two aspects: (1) the requirements for the use of data within the country; (2) the requirements for the data to be exported abroad. But the prices of the Chinese technology companies listed in US and HK are dropping like crazy. Together with the revised anti-monopoly law, many counters are down as much as 50%. There's a lot of fear of the political risks and uncertainties. Retail investors should note the introduction of the new and revised laws is beneficial to the heath of the stock market in the long term.
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  • GrowGrowGrow
    ·2021-08-22
    Grow Grow Grow 
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  • andrew123
    ·2021-08-21
    Wow.. with the introduction of new law, it wipe out trillion in a matter of days. 
    Reply
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  • Upswing118
    ·2021-08-21
    Good question!Will we see us stocks in red shd this happen??
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  • xremy
    ·2021-08-21
    Well.. Its About protection.. ? 
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  • rich9888H
    ·2021-08-21
    Good to have it implemented 
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  • littlekitten
    ·2021-08-21
    !
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  • DPirate
    ·2021-08-21
    Good in longer term ?
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    • Fenixa
      Setting the base right for more robust growth.
      2021-08-23
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    • Fenixa
      Setting the base right for more robust growth.
      2021-08-23
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    • GrowGrowGrow
      hope so
      2021-08-22
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  • BoonHuat
    ·2021-08-21
    Nice.
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  • semsem
    ·2021-08-21
    That's good
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  • KYHBKO
    ·2021-08-20
    China and Europe are handling user data better. 
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    • Phyusin
      Ok
      2021-08-21
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  • JLCH
    ·2021-08-20
    yo
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  • 88wlam88
    ·2021-08-20
    Like PDPA in SG, great to see more countries adopting data protextion initiatives
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    • 慢的老人
      Is PDPA effective? There are still so many scam calls and messages in Singapore each and every day.
      2021-08-21
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    • Phyusin
      [LOL]
      2021-08-21
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  • SanWangtikup
    ·2021-08-20
    Ok 
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  • skyel
    ·2021-08-20
    Will the law work and not abuse by an unknown authority? 
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    • skyel
      Indeed
      2021-08-21
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    • Tan123
      either get abused by governments or by corporations.  1 is answerable to citizens,  1 is answerable to shareholders
      2021-08-21
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  • Black83black
    ·2021-08-20
    ??
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  • Rockyspider
    ·2021-08-20
    Lol
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  • Yc3
    ·2021-08-20
    Like
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    • Ajy
      ok
      2021-08-20
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    • 627ac981
      Ok
      2021-08-20
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  • serenityj
    ·2021-08-20
    Helo
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    • Cckymy
      [开心] [开心] [开心]
      2021-08-20
      Reply
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    • Yc3
      Ni
      2021-08-20
      Reply
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    • 小小爆米花
      ya
      2021-08-20
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  • eric2310
    ·2021-08-20
    Like and comment please ?
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    • Superhuat
      Comment
      2021-08-20
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    • Nagoken
      Helo
      2021-08-20
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