Two years ago, the Chinese government issued a sweeping crackdown on cryptocurrencies and initial coin offerings (ICOs), which has shifted the trajectory of blockchain development in China.The red tape around the blockchain industry has driven some to more lenient markets and others to exit.“Blockchain is the first piece of technology where innovation is happening not only in the US but also at the same time in China,” said Sarah Zhang, founder of Points (PTS), at the Emerge by TechNode conference yesterday.Zhang was joined by Steven Wang, head of market research at Ant Financial’s blockchain subsidiary Ant Blockchain, Jerry Yang, venture architect and solution consultant at ConsenSys, and Tyler Aveni, head of international partnerships at WeBank.About the Chinese government’s approach to regulating the emerging technology, Zhang said some industry watchers complain that there is a lack of consistency across the regional and central government and across different regulatory bodies.However, this phenomenon happens in technologically advanced countries like the US too, she noted.
Growing trade tensions between the US and China exploded into disaster for Huawei earlier this week.In the wake of the Trump administration’s ban on US companies doing business with Huawei, Google pulled its Android, Play Store, and Search licenses for Huawei phones.Huawei device owners in the US will still get access to these services from Google, the company says, but that’s probably little consolation to Huawei, which is now faced with the prospect of having to replace Android, the world’s most popular smartphone system, with something else.If there’s good news for the Chinese tech giant, it’s that it won’t be starting from scratch.Foreseeing the potential for trade troubles, Huawei has had a phone OS project under development for some time.Sources have suggested that it’s not even close to ready, but with the Android ban, development of the project is undoubtedly going into overdrive, and Huawei has said that it will be ready for Chinese consumers later this year, and international customers will get it by early 2020.
A version of this first appeared in our members-only newsletter on May 18, 2019.From new moves to lock Huawei out of the US to tightening visa regulations for Chinese nationals, from new tariffs to new Trump tweets, both China and the US are ramping up for another battle after the March cease-fire.Deal or no deal, the way the world works is changing, and a struggle over values and global preeminence means politics will shape who you can raise money from, market your product to, and sell your company to for a long time.According to the Rhodium Group:Foreign direct investment (FDI) from China into the US fell by 84% from 2017 to 2018Net Chinese FDI fell to negative $8 billion as Chinese investors sold off $13 billion worth of US assets
Volocopter GmbH of Germany said Thursday it will open a landing facility in Singapore later this year for trial flights, while Austria’s FACC AG is working to produce hundreds of passenger drones for Chinese partner EHang Inc. by the end of next year, Bloomberg reports.Volocopter, backed by Intel Corp. and Daimler AG, has partnered with U.K. developer Skyports to build a 1.5 million-euro ($1.7 million), 550-square-meter “Volo-Port” in Singapore after conducting test flights in Dubai and Las Vegas.In Asia, EHang is controlled by state-owned AVIC, while governments in Singapore and territories including Dubai are enthusiastically embracing autonomous transport.
NEW FINDINGS: Two Emory researchers failed to disclose Chinese funding and ties – The Atlanta Journal-ConstitutionWhat happened: Emory University has cut ties with two Chinese-American biomedical researchers because they “had failed to fully disclose foreign sources of research funding and the extent of their work for research institutions and universities in China,” according to a statement by the school.A story on uschinapress.com identifies the researchers as Li Xiao-Jiang and Li Shihua, geneticists who have been involved in work using CRISPR, the cutting-edge gene editing technology.They were working in a department using grant money from the National Institutes of Health (NIH).Why it’s important: As the trade war rages, it hardly seems coincidental that the NIH—a government agency—has taken a tough stance on China in academia.This is the second publicly known case of an institution firing NIH-funded researchers over concerns about foreign involvement.
What happened: Shares of Shenzhen-listed voice recognition firm Iflytek plunged by nearly 10% after news broke that the US is considering curbs on the company, along with several other Chinese tech companies, following Washington’s Huawei offensive.Also facing scrutiny are artificial intelligence company Megvii, data firm Meiya, and security camera makers Hikvision and Dahua.Why it’s important: The Trump administration is casting a wider net in targeting companies affiliated with China’s vast surveillance network.Iflytek says it controls more than 70% of China’s speech recognition market with its technology being used in everything from consumer devices to the country’s courtrooms.The offensive comes after the US last week put Huawei on a trade blacklist, which forms one of a list of measures to temper China’s influence on technology around the world.Trump is now targeting companies with involvement in China’s surveillance apparatus, a system that has caused concern across the globe.
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While Huawei and, to some extent, Google would assure the public that it’s business as usual for the Chinese maker’s Android phones, reality is proving otherwise.Yes, Google has publicly committed to supporting existing Huawei and Honor phones and, yes, the OEM has been granted a 90-day reprieve.That, however, doesn’t take into account new phones that haven’t been certified yet including, apparently, the Honor 20 Pro, which may mean that the phone is dead on arrival in markets outside of China.Honor was perhaps blindsided by US President Trump’s executive order and failed to acquire Google’s certification before things headed south quickly.The Honor 20 Pro could still launch in China where Android phone’s don’t have Google Play services installed anyway.But for the rest of the world, launching with Google Play Store and Google Play apps would be a death sentence for the phone.
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Trump’s Huawei ban was bad news for China, as it effectively crippled the world’s second-largest smartphone maker from its largest source of income.But China is also very much in a position to retaliate, and Apple – the world’s third-largest smartphone maker – could be among the ones to suffer.Goldman Sachs analysts estimated in a note to investors that Apple could lose 29 percent of its profits if China decided to ban Apple sales in the country to retaliate against the Huawei ban in the US.17 percent of Apple’s sales come from China, so such a move would undoubtedly be debilitating.Mind you, this is a theoretical scenario and China has no to ban Apple beyond politicking as far as we’re aware – though you could say the same about the Huawei ban.On the other hand, the 29 percent figure is only an estimate of Apple’s losses should device sales in be halted.
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Over the past week, the US government has taken extreme and unprecedented steps against Huawei, cutting it off from every US partner at the risk of a long-term rupture in trade between the US and China.But while the impact of the order is clear, it’s still not entirely clear why it was put in place.The official explanation, according to the initial executive order, is that Huawei hardware puts the US at risk for espionage.As the order puts it, “foreign adversaries are increasingly creating and exploiting vulnerabilities in information and communications technology and services,” and the “unrestricted acquisition or use” of hardware made by foreign adversaries makes those vulnerabilities worse.But it makes a lot less sense for exported hardware.And if the problem is really just that China has a history of intellectual property violations and trade secret theft, the same logic might apply just as easily to Chinese companies like Lenovo or dronemaker DJI, with catastrophic consequences for those companies and the industry at large.
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The Trump administration's assault on Huawei could end up harming Google and other US tech giants, said Gregor Berkowitz, a tech industry consultant with extensive experience in China and Asia.The US government's move to bar the Chinese device maker from using US tech products and services could encourage it to promote Chinese apps and services outside of China, Berkowitz said.Investors have already started to worry that Apple may get caught in the crossfire of the Trump administration's attacks on Huawei and the broader US-China trade war.The administration's moves against Huawei could end up giving a leg up to the Chinese competitors to US behemoths such as Google and harm those tech giants' ability to compete, particularly in the developing world, he said.Last week, as part of its targeting on Huawei, the administration issued an order barring US companies from supplying Huawei with their products and services.That move not only barred smaller component makers from dealing selling their products to the Chinese company, but it also will prohibit Google and other tech companies from offering their software to Huawei.
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Secretary of State Mike Pompeo has accused Huawei of lying about its government ties while China has asked for the US government to cease its "wrong actions" if trade talks are to continue, CNBC is reporting.Last week, the US government blacklisted networking gear from Huawei and President Donald Trump signed an executive order essentially banning the Chinese tech giant following national security concerns that it had close ties with the Chinese government.Pompeo told CNBC on Thursday that Huawei claiming it doesn't work with the Chinese government is "false.""The Huawai CEO on that, at least, isn't telling the American people the truth," Pompeo reportedly said.However, the secretary of state added to the publication that it is important for trade talks to continue.CNBC and Reuters added that Chinese Ministry of Commerce spokesperson Gao Feng said, "If the US would like to keep on negotiating it should, with sincerity, adjust its wrong actions.
The US government may have banned Huawei from using any software or hardware created by American companies, but China's massive phone-maker is defiant that the lack of American partner support won't break the brand, even if its traditionally Android-based devices become devoid of Android while Google cuts off business ties following President Trump's executive order.No stranger to tension with the US government, Huawei has proven that it doesn't need US carriers in order to grow its business.We have got well prepared," Huawei CEO Ren Zhengfei said to Chinese journalists on May 21, 2019.Huawei has been in the US government's crosshairs for years, a de facto ban in 2012 (some might call it a strong urging) effectively keeping Huawei phones from US carriers despite previous relationships there.Android and iOS form a duopoly, with 86% of all the world's phones running on Android, according to IDC, about 14% running on iPhone's iOS, and 0% running on any other platform.The days when three, four and even five mobile operating systems fought for dominance are far behind us, and the last holdouts -- Windows Phone, BlackBerry OS and webOS -- have long since crumpled or converted to Android.
Top Chinese officials today ramped up the rhetoric against Western governments amid a raging dispute over Huawei, warning attempts to block trade with the tech giant could backfire.A senior Chinese diplomat warned there could be “substantial” repercussions on the country’s investment in the UK if the government decided to ban Huawei from 5G networks.Chen Wen, China’s charge d’affairs in London, told the BBC a ban on the telecoms firm would not send a positive message to Chinese companies and would damage the UK economy.When asked how severe the impact would be, Chen said: “It’s hard to predict at the moment, but I think it’s going to be quite substantial.”Details leaked from a top-secret security meeting last month revealed the UK will ban Huawei from core parts of its 5G network, though the government is yet to issue a formal verdict on the issue.The threats came as China told the US to correct its “wrong actions” in order for trade talks to continue, after President Donald Trump signed an executive order blacklisting Huawei due to fears its equipment could be used for spying.
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Tesla CEO Elon Musk told employees in a Wednesday night email that the company has a “good chance” of beating its record for deliveries this quarter.That record was set in the final quarter of 2018, when Tesla delivered just over 90,000 cars, 63,000 of which were Model 3s.Musk said in a November 2018 leaked email that Tesla had reached the milestone of making 1,000 Model 3s per day, but the company apparently didn’t sustain that output.Musk added: “If we rally hard, we can do it!”Literal rallying cries from Musk like this one are not rare, especially late in a financial quarter, like that one from last November.And this one, like some others, comes at a particularly precarious time for Tesla.
The US government may have banned Huawei from using any software or hardware created by American companies, but China's massive phone-maker is defiant that the lack of American partner support won't break the brand, even if its traditionally Android-based devices become devoid of Android while Google cuts off business ties following President Trump's executive order.No stranger to tension with the US government, Huawei has proven that it doesn't need US carriers in order to grow its business.We have got well prepared," Huawei CEO Ren Zhengfei said to Chinese journalists on May 21, 2019.Huawei has been in the US government's crosshairs for years, a de facto ban in 2012 (some might call it a strong urging) effectively keeping Huawei phones from US carriers despite previous relationships there.Android and iOS form a duopoly, with 86% of all the world's phones running on Android, according to IDC, about 14% running on iPhone's iOS, and 0% running on any other platform.The days when three, four and even five mobile operating systems fought for dominance are far behind us, and the last holdouts -- Windows Phone, BlackBerry OS and webOS -- have long since crumpled or converted to Android.
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Chinese tech giant Huawei has become the focus of a geopolitical flashpoint in US-China relations.Visit Business Insider's homepage for more stories.Huawei is the second-biggest smartphone maker in the world, and is currently at the heart of a geopolitical fight between the US and China.America last week threw oil on the fire by blacklisting Huawei, meaning tech companies including Google dramatically severed ties their Chinese counterpart.Read more: Here are all the companies that have cut ties with Huawei, dealing the Chinese tech giant a crushing blowAs the firestorm around the company has grown, Huawei has opened itself up more to journalists, inviting a number inside its sprawling headquarters.
As such, we already have a pretty good idea of what the device will look like and what kind of specs it will have.This can be your one-stop-shop for all things Redmi K20.Redmi K20: Release date and availabilityRedmi posted on its official Weibo account that we can expect the launch of the Redmi K20 on May 28.As usual, after the China launch, we will likely see the device launch in other countries, including India.We got our first official glimpse at what the Redmi K20 will look like on May 23 via Redmi itself.
China attempted to launch a top-secret military satellite into orbit on Thursday.However, videos and pictures posted to Chinese social media showed the Long March 4C rocket launch failing in mid-flight.Chinese state media later confirmed the loss of the space mission, apparently due a problem with the rocket's third and uppermost stage.The rocket failure marks the nation's second of 2019.China attempted to launch a top-secret military payload into space early Thursday morning, but the attempt ended in a rain of wreckage.The loss of the Long March 4C rocket and its satellite marks the nation's second launch failure of 2019.
Pre-tax profits up 459% but 'geopolitical uncertainties' aren't lost on the PC makerDespite growing political tensions engulfing some Chinese tech firms, Lenovo managed to get back in the black after peddling higher-spec PCs and cutting losses in its data centre and smartphone lines.The company closed off fiscal '19, ended 31 March, with flourishing Q4 numbers: revenue was up 10 per cent to $11.7bn with top-line gains in all its major product areas."At a time of great global change – economically, socially and environmentally – we continue to focus on how we 'intelligently transform' ourselves and enable our many customers to do the same," said Lenovo CEO Yang Yuanqing in a canned statement.The one element missing from that statement is the charged political climate that has dampened trade relations between the US and China – where Lenovo has a major presence – and is starting to damage firms in both countries.US president Donald Trump has initiated a ban on Huawei and other Chinese companies, in addition to the trade tariff war he sparked last autumn by slapping a 10 per cent tax on certain goods imported from China.
Huawei has been dealt a series of massive blows this week that could halt the company’s global consumer tech ambitions.At first it was Google pulling Huawei’s Android license, then came an Intel and Qualcomm ban, and finally the news that ARM had halted all business with Huawei.Assuming the executive order that caused these issues isn’t rescinded, Huawei will now have to create its own operating system and processor designs to be able to build working smartphones and laptops in the future.Not much is known about Huawei’s Android and Windows alternative, but it appears to be based on the open source version of Android (AOSP) and will include Huawei’s App Gallery store.Outside of China, phones running alternatives to Android and even those using AOSP haven’t fared well.Google’s search market share is estimated at around 90 percent worldwide, with competitors like Bing, Yahoo, Baidu, and Yandex all making up single digits.
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