There was a massive drop in living standards in the former Soviet Union after the introduction of capitalism in the 90es. Average life expectancy dropped something like 10 years, corresponding to millions of dead.
President Donald Trump said Saturday that he tentatively approved a deal between the Chinese-owned social media app TikTok and Oracle and Walmart that could bring the new joint venture’s headquarters to Texas. The deal, though, still faces much uncertainty.
“All of the technology will be maintained here,” Trump said at a North Carolina rally. “They’re going to move probably to the great state of Texas.”
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If approved, the new entity, TikTok Global, would contribute $5 billion to an educational fund based in Texas, according to the Austin American-Statesman, though Walmart said in a press release the money would go to the U.S. Department of the Treasury. Trump had previously requested that there be a contribution to the U.S. government in exchange for helping to arrange the deal. Walmart did not respond to a request for comment.