Back in July 2016 two 'distruptive' transport giants called it quits and decided the Chinese market was only ever going to be big enough for one them. Didi Chuxing and Uber merged together with the later taking a 17.7% stake in Didi.
With no competition the merger instantly put an end to over three years of low subsidised fares and driver protests. So how is the monopoly working out for the drivers and travelling public?
It would seem not so great. A consultation carried out by an independent web portal called Sina showed 81.7% believe that hailing a taxi in China is now more difficult than it was a year ago and more worryingly 86.6% claim it is more expensive than ever before.
Users of TaxiPoint often ask why we report on global taxi news as it doesn't really affect them. However, markets like China who are further down the line with monopolisation provides us with a clearer picture on where we could end up more locally.
The necessity for regulation within the taxi industry remains high to ultimately protect the consumer. With fares subsidised to the tune of over 50% in London and the rest of the UK this should raise alarm bells amongst the public and local authorities should the likes of Uber achieve their ultimate end goal.