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ByteDance is not backing down from its ambitions to become a global technology powerhouse, even as TikTok loses its largest market (India) and faces insurmountable challenges in the U.S. But some in China are blasting the Beijing-based company as too accommodating and yielding to U.S. demands. Following months of efforts to sway U.S. regulators and the public, TikTok reluctantly arrived at two concessions: "We faced the real possibility of a forced sale of TikTok’s US business by CFIUS or an executive order banning on the TikTok app in the US," ByteDance founder and CEO Zhang Yiming wrote to employees in a letter on Monday.
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