IT IS HARD work being a capitalist in a communist dictatorship. In the past few months China’s authorities have gone after big technology firms for alleged abuse of monopolistic power and the misuse of data. In the name of social cohesion they have banned for-profit tutoring and hectored companies and billionaires about their wider social responsibilities. The crackdown is reckoned to have wiped more than $1trn off the value of China’s biggest tech firms.
On August 30th, the country’s video-gaming industry—the world’s largest with annual sales of $46bn—became the latest target. New rules proclaimed that, in order to “effectively protect the physical and mental health of minors”, children under 18
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