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LeBron James during pregame warmups in Shanghai. Photo: Hector Retamal/AFP via Getty Images

Thursday's game between the Lakers and Nets proceeded as scheduled, but the Chinese government will not allow players or coaches to talk to the media before or after the game. In addition, Adam Silver's pre-game press conference was canceled.

The big picture: This is a high-stakes political battle between the world's most populous country and one of America's most visible entities, with its 2 newest owners, Tilman Fertitta and Joe Tsai, playing major roles.

  • The salary cap effect: Some NBA teams are doing scenario planning for the $116 million salary cap for 2020-21 to drop by as much as 15% due to the China situation, per Yahoo Sports. "I haven't really been in this spot before. The cap has only gone up in recent years," said one team's cap expert.
  • Chinese partners cut ties: Of the 25 official partners listed on the NBA China website, 13 are Chinese businesses. So far, 11 have distanced themselves from the league. This comes after tech giant Tencent and smartphone-maker Vivo did the same earlier this week.
  • Congress gets involved: 8 members of Congress, including Rep. Alexandria Ocasio-Cortez and Sen. Ted Cruz, wrote a letter to Adam Silver yesterday, calling on him to "Suspend NBA activities in China until government-controlled broadcasters and government-controlled commercial sponsors end their boycott."

Go deeper: The basketball tweet that set off a geopolitical firestorm

Go deeper

Battle for the soul of a new web

Illustration: Aïda Amer/Axios

A well-funded and intensely motivated chunk of tech's hive mind is finding common cause in a vast new project: rebuilding the web on a foundation of cryptocurrency and blockchain tech. They call it "Web3."

The big picture: Developers, investors and early adopters imagine a future in which the technologies that enable Bitcoin and Ethereum will break up the concentrated power today's tech giants wield and usher in a golden age of individual empowerment and entrepreneurial freedom.

First look: Biden summons top CEOs on supply chain

Photo: Alex Wong/Getty Images

President Biden will meet Monday afternoon with CEOs of big retailers, grocers and consumer-products firms to send this message, according to the White House: Products will be on shelves for holiday shopping.

Zoom out: Black Friday sales rebounded from 2020.

Thanksgiving box office shows theaters have long road to recovery

Photo of Disney's "Encanto;" Credit: Disney

Box office ticket sales over the Thanksgiving holiday show that consumer confidence in moviegoing is slowly improving, but not enough to bring the struggling theater industry back to pre-pandemic levels anytime soon, if ever.

Why it matters: "We may have to temper expectations a bit" for next year, said Comscore senior media analyst Paul Dergarabedian.