America was late to the game--and is now paying the price because China, the world’s second largest and powerful economy behind the U.S., was able to take advantage by stealing secrets from some of the nation’s most critical businesses, including the U.S. government. Secretary of State Mike Pompeo is worried that the communist-led country has stolen defense secrets and used them to technologically advance their own defense systems, in both capacity and intent.
Secretary of State Mike Pompeo told FOX Business’ Maria Bartiromo that Huawei Technologies' ties to the Chinese Communist Party pose the greatest threat to America’s economic and national security. “Huawei is an instrument of the Chinese government. They’re deeply connected. It’s something that hard for Americans to understand,..."
...the friction between these two superpowers, the U.S. and China, could result in a separation of tech spheres. This is already beginning as Chinese tech companies such as Huawei and Xiaomi look to alternative sources for semiconductor chips and other high-design supplies. It is also happening as U.S. companies are turning away from selling to Chinese companies and into China.
A new floating bullet train capable of hitting speeds of 600 kilometers per hour (about 372 miles/hour) is one step closer to reality in China. On Thursday, the body prototype for the country's latest high-speed magnetic-levitation (maglev) train project rolled off the assembly line in the eastern Chinese city of Qingdao.
Drone aircraft used to be prohibitively expensive, but now you can buy a camera-equipped drone that talks to your smartphone for under $100. The US Department of Homeland Security has issued an alert that drones manufactured by Chinese firms might have become a little too accessible. The DHS says much of the data collected by these drones ends up on servers in mainland China where the Chinese government can access it.
President Donald Trump’s new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday.
With transistors 10,000 times thinner than a human hair -- so small billions can fit on a chip the size of cufflink -- today’s semiconductors are a triumph of innovation and a hallmark of America’s technological prowess. U.S. companies have led the world for decades in producing these tiny chips that power modern technologies and are a big reason America has the world’s most advanced technologies, the biggest economy and the greatest military.
The trade negotiations between the Trump administration and the People's Republic of China (PRC) are not rooted in commercial disputes. Though media discussions are dominated by issues about opening markets for U.S. exports limited by Chinese policy, the real issue is national security and the need to keep the balance of power tilted in America's favor. Business is the means, not the end.
The United States has agreed to lift its tariffs on industrial metals from Mexico and Canada, clearing a major obstacle to congressional passage of President Trump's new North American trade deal. The bargain calls for Mexico and Canada to adopt tough new monitoring and enforcement measures to prevent Chinese steel from being shipped to the U.S. via their territory.
As the trade talks between the United States and China continue, the trade imbalance is just one part of a much larger struggle between the two largest economies in the world. What many don’t realize is that Chinese companies listed on U.S. stock exchanges pose a very serious and imminent risk to the U.S. economy. In fact, it strikes at the very heart of the U.S. financial system.