China has steadily distanced itself from Western enterprises, particularly American businesses, because of its severe anti-epidemic strategy and strict censorship. However, reality shows that American companies are still growing.
A Hollywood blockbuster that wasn’t released in China had a significant box office triumph in early June. “Defender: The Lone Ranger” took the number one spot at the box office worldwide with 260 million dollars.
In this film, actor Tom Cruise’s character wears a jacket with the flags of four countries embroidered on it: the Republic of China (Taiwan), Japan, the United States, and the United Nations. For the CCP, the flag of the Republic of China is forbidden. So the film has yet to be approved in China.
Another Hollywood blockbuster, “Doctor Strange in the Multiverse of Madness,” has not yet been approved for release in China. According to analysts, the reason is a yellow The Epoch Times newspaper box appeared in the movie. The Epoch Times usually publishes the CCP’s human rights violations, so Chinese authorities heavily censor it.
However, “Doctor Strange In The Multiverse of Madness” is a global film success. The superhero film grossed more than 200 million dollars in North America and nearly 300 million worldwide in less than a week.
Bob Chapek, president of U.S. entertainment giant Disney, said in a post-earnings conference on May 11 that they’re pretty confident even without China. But, he said, “it doesn’t really preclude our success given the relatively lower take rate that we get in the box office in China than we do across the rest of the world.”
Many American businesses other than the movie business have prospered after leaving China.
For example, Amazon’s e-commerce business in China was shut down in July 2019. But seven months later, Amazon became the fourth U.S. listed company with a market value of over 1 trillion dollars.
Home Depot announced its entire exit from the Chinese market in September 2012. Since then, the retailer’s business has continued to grow. Home Depot’s net sales in 2021 were 151.2 billion dollars, up 19 billion dollars from the previous year and up 14.4% year on year.
Google formally shut down Google.cn in mainland China on March 23, 2010, and stopped censoring information in compliance with CCP directives. Six years later, Alphabet, Google’s parent firm, is the world’s most valuable corporation.