"Foreign economic and industrial espionage against the United States continues to represent a significant threat to America's prosperity, security and competitive advantage," the National Counterintelligence and Security Center said. "China, Russia and Iran stand out as three of the most capable and active cyber actors tied to economic espionage and the potential theft of U.S. trade secrets and proprietary information."
For the first time, the Chinese venture capital (VC) market has surpassed the U.S. VC market in total dollars invested in Q2 of 2018, according to Crunchbase. Driven by mega rounds and strong corporate VC, Chinese startups were able to raise more VC money in Q2’18 than their American counterparts.
It is no surprise that looming tariffs have impacted global markets. The U.S. imposed tariffs on a number of foreign goods, and the rest of the world responded. The markets, bearing the potential for a trade war, have volleyed based off this news, and several sectors could face potential losses. Not all industries, however, face negative futures as a result of these tariffs. Some are set to thrive.
Real personal income -- a measure of purchasing power that connects income to costs -- has grown within states at an average rate of 1.5 percent per person since 2012, according to data from the Bureau of Economic Analysis.
The Trump administration’s massive deregulation effort and the enactment of the Tax Cuts and Jobs Act passed by the Republican-controlled Congress have done wonders for the U.S. economy. There are now more open jobs than there are unemployed people in America. Wages are increasing, and consumer and business confidence is rising with them.
“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.
"Qualcomm is selectively asserting its patents to target only Apple products containing Intel chipsets -- even though its patent infringement allegations would apply equally to Apple products containing Qualcomm chipsets -- in an attempt to use the ITC as another mechanism for perpetuating its ill-gotten monopoly position," Apple wrote.
President Trump on Friday announced that the United States would impose tariffs on $50 billion in Chinese products, making good on a threat that has been months in the making. The White House's move is expected to ramp up trade tensions with Beijing and possibly risk a key cooperative partnership to help denuclearize the Korean peninsula.
"The United States will not get a second chance to win the global 5G race," Meredith Attwell Baker, president and CEO of the wireless industry group CTIA, warned in April, when the group released a report concluding that the US trails China and South Korea in preparing for 5G (fifth generation) networks. If that doesn’t change, the report warns, the US economy will suffer.