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Government pressure and new competitors mean Baidu, Alibaba and Tencent are no longer the unstoppable investments they’ve been for years
The harsh reality of doing business in China has caught up to the country’s tech giants, upending one of the most profitable investments in global markets.
Baidu, Alibaba and Tencent—China’s largest tech companies—have long seemed unstoppable, respectively dominating online search, e-commerce and videogames in the world’s most populous nation.