, Columnist
Uber Wins by Losing in China
A strategic retreat helps the ride-hailing company in myriad ways.
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Uber's loss may turn out to be a big victory.
The ride-hailing company surrendered in the fierce fight over taxi hailing and on-demand rides in China. Uber agreed on Monday to effectively turn over its operations in China to local rival Didi Chuxing, but only after the U.S. startup lost roughly $2 billion battling for dominance in the country.