To understand why the United States and China stand on the brink of a trade war, consider the near-death experience of American Superconductor Corp.
To understand why the United States and China stand on the brink of a trade war, consider the near-death experience of American Superconductor Corp.
The company, known as AMSC and based in Massachusetts, was reeling after a Chinese partner stole its technology — the electronic brains that run wind turbines. The loss was devastating: AMSC’s stock shed $1 billion in value, and the company cut 700 jobs, more than half its workforce.
“Attempted corporate homicide” is what CEO Daniel McGahn called it. In January, its Chinese partner, Sinovel Wind Group, was convicted in a U.S. court of stealing AMSC’s trade secrets.
To the Trump administration, Sinovel’s predatory practices are hardly isolated. Beijing, it charges, is orchestrating a brass-knuckles campaign to supplant U.S. technological dominance and over the next few decades make Chinese companies global leaders in such fields as robotics and electric vehicles.
According to a report by the Office of the U.S. Trade Representative, Beijing’s tactics include coercing American companies to hand over trade secrets in return for access to the Chinese market; forcing U.S. businesses to license technology in China on unfavorable terms; using state funds to buy up American technology; and sometimes outright theft.
Critics have long asserted that China runs roughshod over intellectual property rights. But President Donald Trump, who ran for the White House on a vow to force China to reform its trade policies, is the first U.S. leader to risk a trade war between the world’s two biggest economies.
“We’ve been in a trade war for a long time, but we weren’t participating,” said Richard Ellings, president of the National Bureau of Asian Research. “We’ve awakened. ... This is a fundamental change. It’s a historic moment.”
Denne historien er fra July 07,2018-utgaven av Techlife News.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 07,2018-utgaven av Techlife News.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
SOUTH KOREA FINES META $15 MILLION FOR ILLEGALLY COLLECTING INFORMATION ON FACEBOOK USERS
South Korea’s privacy watchdog this week fined social media company Meta 21.6 billion won ($15 million) for illegally collecting sensitive personal information from Facebook users, including data about their political views and sexual orientation, and sharing it with thousands of advertisers.
CHINESE ONLINE RETAILER TEMU FACES EUROPEAN UNION INVESTIGATION INTO ROGUE TRADERS AND ILLEGAL GOODS
Chinese online retailer Temu is facing a European Union investigation over suspicions it’s failing to prevent the sale of illegal products, the 27-nation bloc’s executive arm said.
CORNING FACES EU ANTITRUST SCRUTINY OVER GORILLA GLASS DEALS WITH PHONE MAKERS
Corning is facing European Union antitrust scrutiny after the bloc’s watchdog said this week it’s investigating the speciality glass maker’s exclusive deals for its Gorilla Glass used in cellphones.
NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT
CVS Health fell short on third-quarter profit, but it posted strong sales and the health care giant shook up leadership under new CEO David Joyner after a rough year that has sent shares plunging.
NINTENDO REPORTS LOWER PROFITS AS DEMAND DROPS FOR ITS AGING SWITCH CONSOLE
Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale.
AS THE DATA CENTER INDUSTRY BOOMS, AN ENGLISH VILLAGE BECOMES A BATTLEGROUND
Originally built to store crops from peasant farmers, the Tithe Barn on the edge of the English village of Abbots Langley was converted into homes that preserve its centuries of history.
THE BEST SMALL SUVS FOR CITY DRIVING
SUVs are popular in part due to their elevated ride height, commanding view of the road, and roomy interiors.
GOOGLE MAPS ADDS AI FEATURES TO HELP USERS EXPLORE AND NAVIGATE THE WORLD AROUND THEM
Google Maps is heading down a new road steered by artificial intelligence.
TESLA SHARES SOAR 14% AS TRUMP WIN SETS STAGE FOR ELON MUSK'S ELECTRIC VEHICLE COMPANY
Shares of Tesla soared following an election that will send Donald Trump back to the White House, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race.
APPLE BREAKS OUT OF RECENT SALES SLUMP AS IT GEARS UP TO MAKE ITS LEAP INTO THE AI CRAZE
Apple snapped out of a recent iPhone sales slump during its summer quarter, an early sign that its recent efforts to revive demand for its marquee product with an infusion of artificial intelligence are paying off.