Advancements in shale technology and expansion of the United States’ pipeline network and oil export infrastructure have enabled it to export hydrocarbon resources for the first time in decades. This rapid increase in U.S. oil and gas production is transforming the global energy market. Supply has exceeded demand, slashing oil prices from over $100 a barrel to the mid-50s.
The high profile move by the United States to drastically cut corporate taxes has increased the pressure on other economies to hand out similar incentives to keep investors on their shores.
China is planning to build a 13.8 billion yuan ($2.1 billion) technology park dedicated to developing artificial intelligence (AI), state-backed news agency Xinhua reported Wednesday. The campus will be constructed within five years and situated in the suburban Mentougou district in western Beijing. It will cover 54.87 hectares, Xinhua said.
After reading the two presidential documents, I've found a striking resemblance in them: the unprecedented emphasis laid on innovation, an area I believe the two countries have as much, if not more, to cooperateon rather than compete. Trump mentioned innovation at least 30 times in his first national security strategy, more than double the occurrences in the 2015 strategy by his predecessor Barack Obama. It occurs more than 50 times in Xi's landmark work report at the Party congress.
China has made no secret of its ambitions to lead the world in artificial intelligence, nor of the military and geopolitical advantage it hopes to gain from this rapidly advancing technology. A closer look at Beijing’s whole-of-nation AI strategy shows the challenge to the United States -- and suggests what America must do lest it be eclipsed in this latest round of great-power competition.
China ranks second only to the United States in terms of internet development and innovation, but among the worst on cybersecurity and industry infrastructure, according to a survey of 38 countries by a Beijing-backed think tank.
A research arm of the U.S. intelligence community just wrapped up a competition to see who could develop the best facial recognition technology. The challenge: identify as many passengers as possible walking on an aircraft boarding ramp. Of all the entries, it was a Chinese start-up company called Yitu Tech that walked away with the $25,000 prize this month, the highest of three cash awards.
Today, the most innovative research into space travel has shifted to the private sector, especially in the U.S. SpaceX's commercial rockets have not only cut the cost of launching into Earth orbit. They're precursors to bigger rockets the company hopes will send humans to Mars before the end of the 2020s, long before China's state-funded program achieves the same.
Until only a few years ago, talk of China as an innovator would have elicited scorn from most Western business and government leaders. The country was widely derided as a haven for copycats and pirates, or grudgingly acknowledged as an efficient manufacturing platform whose factories depended on the uneasy union of cheap Chinese labor and foreign technology.
China is building the world's fastest wind tunnel to simulate hypersonic flight at speeds of up to 12 kilometres per second. A hypersonic vehicle flying at this speed from China could reach the west coast of the United States in less than 14 minutes.