"Facebook is currently banned in China, but that doesn't mean it can't tap its potential in other ways. Many Chinese companies want to use the social giant's global presence and powerful ad tools to get ahead of the competition and expand their customer base, so Facebook is building a team dedicated to helping them out." Techspot reports
"Facebook CEO Mark Zuckerberg officially gave up on annual challenges, opting for longer-term goals that cover the next decade. Among them are the fight to give more power to the people and a push for establishing rules around issues that are long in the tooth, such as election integrity, privacy, and the sanity of Facebook's online platforms." the article reads on.
Essentially, Marky the Zuck, is going to try to expand the ad tools of Facebook to be able to reach the Chinese market, which has its own sets of pros and cons.
It is no secret knowledge that Facebook's ad tools are as effective as they are annoying (-super- annoying). With the Chinese market being a significant driving force, second only to the United States.
"Facebook sells more than $5 billion a year worth of ad space to Chinese businesses and government agencies looking to promote their messages abroad, analysts estimate. That makes China Facebook’s biggest country for revenue after the United States, which delivered $24.1 billion in advertising sales in 2018." Reuters reports so naturally it makes sense for Facebook to want a piece of that.
However Facebook is fighting an uphill battle, as the very restricting Internet policies of China, as well as Zuckerberg's criticism of the region and its tendency to govern big platforms with censorship and strict rules do not help smooth things over.
That said, as Simple News astutely said "Still, that leaves many small startups that want the facility of Facebook to obtain visibility in a crowded world panorama. According to Raggy Lau, who runs a small ad company in China, serving 30 companies, Facebook will see a big demand for its ad instruments this 12 months and past."
With global tensions just going higher and higher, it is pleasant to see news that promote trade and co-operation, even if that comes in the form of ads. One thing is for sure however, the large population of China as well as its significant market value has put it on the sights of many corporations, wanting to expand and earn a bit of revenue from there.
One only hopes that the mistakes of the past will not be repeated and a common, fair ground for trade for all parties involved is found