Commenting on TikTok’s new US venture, SMU Associate Professor of Strategy & Entrepreneurship Chen Liang said that 2025 showed that China-originated apps are not just policy arbitrageurs, but are adaptive ecosystems with governance capabilities on both the demand and supply sides. Assoc Prof Chen said that policy shocks in 2025 did not really make demand disappear. He added that they proved that these platforms can adapt their logistics, merchant mix, and incentive design faster than consumer habits shift.
