The Chinese government has acquired a stake in TikTok’s parent company, ByteDance Technology co. Ltd. The acquisition brings to the fore concerns raised by the US government in 2020 accusing the video-making app of being a Chinese spy. The Chinese government has acquired a 1 percent stake in the company and one of the three membership seats of the board of the parent company. This means that the government will now have some influence over the operations of the business. TikTok amassed a massive growth in 2020 especially during the pandemic period. The company was recently ranked as the most…