In documents filed last December in Federal District Court for the Northern District of California, Micron claimed that designs for its memory chips were stolen after rejecting an acquisition and multiple partnership offers from Chinese tech companies. Micron said Taiwanese company UMC and China’s FJICC colluded in the theft of valuable trade secrets.
Peter Navarro, one of Trump's top trade advisors said that the US currently has no plans to impose investment restrictions on any countries, according to a report by CNBC on Tuesday. Navarro’s comments came after news reports that had Wall Street reeling over the prospect that the US could prevent companies that had at least 25% Chinese ownership from buying businesses that possessed "industrially significant technology", the report says.
The U.S. Treasury Department is drafting curbs that would block firms with at least 25 percent Chinese ownership from buying U.S. companies with “industrially significant technology,” a government official briefed on the matter said on Sunday. The official, whose comments matched a report by the Wall Street Journal, emphasized that the Chinese ownership threshold may change before the restrictions are announced on Friday.
Fresh concerns over Chinese espionage are gripping Washington as lawmakers fear Beijing is gaining sensitive details on U.S. technologies. Lawmakers are scrutinizing the Pentagon over its efforts to keep military secrets safe from hackers, after Chinese actors allegedly breached a Navy contractor’s computer and collected data on submarine technology.
A China-based cyber group is carrying out an extensive hacking campaign by targeting satellite, telecom and defense companies in the United States and Southeast Asia, a U.S. cybersecurity firm warned this week. The motive of the hacking group, known as "Thrip," is likely national cyber espionage, security researchers at Symantec Corp. said on Tuesday.
When Google’s AlphaGo defeated the Chinese grandmaster at a game of Go in 2017, China was confronted with its own “Sputnik moment”: a prompt to up its game on the development of artifical intelligence (AI). Sure enough, Beijing is pursuing launch a national-level AI innovation agenda for “civil-military fusion”.
"Apple is most exposed," Neil Campling, co-head of global thematic group at Mirabaud Securities, told CNBC by phone Tuesday. Drilling into the numbers you can see why. In its last fiscal year, Apple generated nearly 20 percent of its revenues from Greater China, which equated to $44.7 billion. In 2017, it shipped over 41 million iPhones into China and was the fifth-largest player in the market, according to data from IDC. On top of that, it has around 40 stores in China.
“In the technology space, China has this thing called China 2025. It’s basically a blueprint to take over and dominate the emerging technology industries of the future - things like artificial intelligence, robotics, high-tech shipping, aerospace,” he explained. “The president has said, correctly, these are the industries of the future. If we don’t have them, America doesn’t have a future,” he warned. Navarro outlined four tactics China uses to dominate these industries.
China "has experienced rapid economic growth to become the world's second largest economy while modernizing its industrial base and moving up the global value chain. However, much of this growth has been achieved in significant part through aggressive acts, policies, and practices that fall outside of global norms and rules (collectively, 'economic aggression')," the White House report said in its opening.
As the world's largest economies threaten tit-for-tat tariffs, White House trade advisor Peter Navarro tore into Chinese trade practices aimed at stealing American companies' intellectual property. U.S. officials have long complained that intellectual property theft has cost the economy billions of dollars in revenue and thousands of jobs.