Hi, I'm Dan Pramette and welcome to Axios Recap, presented by Bridgebank.

Today's Tuesday, September 15th.

North Dakota's COVID cases are way up.

Dell's number of employees is going down, and we're focused on how the TikTok saga is playing in China.

By this time next week, we should all know if TikTok will be allowed to continue operating

in the U.S. or if it'll be in the process of getting banned by President Trump.

The Apps Chinese parent company, Bite Dance, recently submitted a savior proposal to

Sipheus, which is the multi-agency U.S.

government group that oversees cross-border transactions from a national security perspective.

Now, details of BightDance's exact proposal are private, but what we do know is that it no longer

involves a sale of TikTok U.S US. Instead, it would establish a new

U.S.-based company in which ByteDance would have just a minority stake. The rest would be

owned by a combination of U.S. venture capital firms, Oracle, and possibly Walmart. Oracle also

would be the one responsible for data privacy and security, basically acting like a cloud hosting company on steroids.

Already, there are objections to this proposal in the U.S. from folks who believe it does not do enough to satisfy national security concerns.

Republican Senator Josh Hawley, for example, has already called for Sipheus to outright reject the deal,

largely because ByteDance will still have that minority stake.

But if you've been following the saga, you already know the U.S. perspective.

And President Trump's perspective, too.

What we wanted to do today in the show was to look at this from within China, where TikTok

itself doesn't actually even exist as an app,

but where Trump's threat to ban it is nonetheless top of mind. We'll do that in 15 seconds with

...