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☆ What’s at stake for the global economy as Taiwan goes to the polls
▼ + stars: | 2024-01-13 | by ( Laura He | ) edition.cnn.com time to read: +7 min

That pushed Taiwan’s trade surplus with China to an enormous $80.5 billion in 2023. For Taiwan, China has been its favorite investment stop for decades. China imports electronic components or precision machine tools from Taiwan, assembles them and exports the finished products to global markets. China may respond to a DPP victory by putting military and economic pressure on the island, Vest said. In 2022, China retaliated after Pelosi’s visit by banning imports of a range of food products from Taiwan.

Persons: Xi Jinping, Lai Ching, Lai, ”, Charlie Vest, Nancy Pelosi’s, Tsai Ing, Kevin McCarthy, they’re, ” Vest, Mike Kai Chen, Vest, there’s Organizations: Hong Kong CNN, Communist Party, Democratic Progressive Party, US, Taiwan’s Ministry of Economic Affairs, Imports, Hsinchu Science, Bloomberg, Getty, Capital Economics, Taiwan Semiconductor Manufacturing Company, Apple, Foxconn, Analysts, Atlantic Locations: China, Hong Kong, Taiwan, Beijing, Taiwan Strait, California, United States, Europe, Japan, South Korea, “ Taiwan, Hsinchu, Hsinchu Science Park

☆ AI could judge if user is of porn-watching age under new UK guidance
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. The legal age to watch porn in Britain is 18 or over. The regulator described its suggestion on facial age estimation as using AI to analyse a viewer's features. The watchdog said its proposed guidance also included photo identification matching, requiring a user to upload a photo ID such as passport or driving licence to prove their age, and credit chard checks. The regulator said weaker methods such as self-declaration of age, online payment methods that do not require a person to be 18, and disclaimers or warnings, would no longer meet the standards in its new guidance.

Persons: Dado Ruvic, Melanie Dawes, chard, Muvija, Paul Sandle, Richard Chang Organizations: REUTERS, England, of Economic Affairs, Ofcom, Thomson Locations: Britain

☆ AI Could Judge if User Is of Porn-Watching Age Under New UK Guidance
▼ + stars: | 2023-12-04 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +2 min

LONDON (Reuters) - Britain proposed new age-check guidance on Tuesday to protect children from accessing pornography online, including a suggestion to use AI-based technology to see if a viewer looks to be of legal age. The legal age to watch porn in Britain is 18 or over. The regulator described its suggestion on facial age estimation as using AI to analyse a viewer's features. The watchdog said its proposed guidance also included photo identification matching, requiring a user to upload a photo ID such as passport or driving licence to prove their age, and credit chard checks. The regulator said weaker methods such as self-declaration of age, online payment methods that do not require a person to be 18, and disclaimers or warnings, would no longer meet the standards in its new guidance.

Persons: Melanie Dawes, chard, Muvija, Paul Sandle, Richard Chang Organizations: England, of Economic Affairs, Ofcom Locations: Britain

LONDON (AP) — Alistair Darling, a central figure in the U.K.’s response to the 2008 financial crisis who later helped organize the campaign against Scottish independence, has died. Darling had been treated for cancer, his family said in statement on Thursday. He served as Britain’s treasury chief under then Prime Minister Gordon Brown, who praised him as a “popular and effective’’ government minister. Though Darling held a variety of posts during his 28 years in the House of Commons, he is likely to be remembered most for his work in steering the nation’s finances during the global credit crunch. The package of measures he implemented were credited with preventing an even more dramatic slide after the crisis threatened the nation’s banking system.

Persons: — Alistair Darling, Darling, Gordon Brown, “ Alistair, ” Brown Organizations: Scottish, Commons, Associated Press

HONG KONG (AP) — Taiwan authorities are investigating four Taiwan-based companies suspected of helping China’s Huawei Technologies to build semiconductor facilities. Political Cartoons View All 1202 ImagesThe companies could be fined up to 25 million Taiwan dollars ($777,665) for violating regulations. Cleanrooms and other high-tech equipment and services are crucial for the delicate process of making computer chips. But Wang reminded companies that if they used U.S. technology and equipment they would not be able to co-operate with firms included in the U.S. U.S. officials say the company is a security risk and might facilitate Chinese spying, an accusation that Huawei denies.

Persons: Economic Affairs Wang Mei, Wang, Yuan Organizations: Huawei Technologies, Economic Affairs, of Economic Affairs, Bloomberg, Huawei, Strategic, Tech Commodities, Taiwan's China News Agency, Topco, K Engineering, United Integrated Services Co, Chemical Technology, Chemical Technology Taiwan Co, Science, Technology Council, U.S . Commerce Locations: HONG KONG, Taiwan, China, Chemical Technology Taiwan, U.S

Taipei/Hong Kong CNN —Taiwan is investigating whether four of its firms broke US sanctions or its own investment rules when they provided services to Chinese companies that are reportedly helping Huawei build chip factories. Many Taiwanese companies, including chip giant TSMC and Apple supplier Foxconn, operate in China and are closely integrated into its supply chains. For years, Taiwan’s companies have been treading a fine line between engaging China’s commercial opportunities and avoiding potential violations of export controls, particularly as Beijing has ramped up military pressure on the island. But China’s ruling Communist Party claims Taiwan, home to 24 million residents, as its territory — despite never having controlled it. It has long vowed to “reunify” Taiwan with the Chinese mainland, by force if necessary.

Persons: Emile Chang, ”, Chang, Economic Affairs Wang Mei, Wang, China’s, “ Organizations: Hong Kong CNN, Huawei, Ministry of Economic Affairs, CNN, United Integrated Services, K Engineering, Technology, Apple, Foxconn, Taiwan’s, Economic Affairs, Bloomberg, Communist Party Locations: Taipei, Hong Kong, Taiwan, China, United States, China . Washington, Europe, Asia, Beijing

☆ A Barcelona market used 5G to power an AR personal-shopper experience, helping tourists and locals alike shop smarter
▼ + stars: | 2023-10-05 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +4 min

La Boqueria, a famed Spanish market, participated in a 5G trial that brought AR to shoppers. Remote shoppers could also see through the AR shoppers' goggles and get a taste for the market. AdvertisementAdvertisementTourists traipsing through La Boqueria, Barcelona's famed market on La Rambla, are presented with an array of amazing food and drink. In the La Boqueria project, that was down to less than 10 milliseconds, Aranda Legazpe said. The La Boqueria trial has concluded, but the technology worked — so technologists from Cellnex are now exploring other 5G-powered tools.

Persons: —, Cellnex, José Antonio Aranda Legazpe, Aranda Legazpe Organizations: Service, Spanish Ministry of Economic Affairs, Cellnex Telecom Locations: Spanish, La, Catalonia, Spain, France, Portugal

☆ Indonesia proposes critical minerals trade deal with US
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Indonesian President Joko Widodo and U.S. Vice President Kamala Harris ride on an escalator during the 43rd ASEAN Summit in Jakarta, Indonesia, September 6, 2023. REUTERS/Willy Kurniawan/Pool Acquire Licensing RightsJAKARTA, Sept 7 (Reuters) - Indonesia has asked the United States to begin talks on a trade deal for critical minerals so that exports from the Southeast Asian country can be covered under the U.S. Inflation Reduction Act, an Indonesian ministry said on Thursday. Indonesia does not have a free trade agreement with the United States, but the resource-rich country has ambitions to become a major player in the manufacturing of EVs and their batteries, leveraging its vast nickel reserves. "Indonesia invites the U.S. to discuss the formation of the Critical Mineral Agreement," Jokowi added. Harris, during the opening speech of the bilateral meeting, said she would continue to work with Indonesia to build supply chains that included "critical minerals required to expand our clean energy economies" and to boost trade between the two countries through IPEF.

Persons: Joko Widodo, Kamala Harris, Willy Kurniawan, EVs, Jokowi, Luhut Pandjaitan, Harris, Gayatri Suroyo, Kanupriya Kapoor Organizations: ASEAN Summit, REUTERS, Rights, U.S, Association of Southeast Asian Nations, ASEAN, Economic, EV, IPEF, Thomson Locations: Jakarta, Indonesia, Rights JAKARTA, United States, Washington, North America, U.S, Indonesian, Japan

☆ Pan Gongsheng: China's new central bank governor faces daunting tasks
▼ + stars: | 2023-07-26 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China has a new central bank governor. He replaced Yi Gang, who took office in March 2018, when China’s longest-serving central banker Zhou Xiaochuan stepped down after a 15-year tenure. He was previously a deputy governor of the PBOC and has served as head of China’s foreign exchange regulator since 2016, managing currency reserves worth $3.18 trillion. In China’s political system, the Communist Party boss is usually the top official in the relevant organization, be it a level of government or a public institution. In March, Beijing created a powerful financial watchdog run by the Communist Party, named the Central Financial Commission, as part of a broad reform of governing bodies to strengthen the party’s oversight of economic affairs.

Persons: Pan Gongsheng, Yi Gang, Zhou Xiaochuan, Xi Jinping, Xi, ”, Ken Cheung, Zhou Organizations: Hong Kong CNN, People’s Bank of China, Communist Party, Renmin University of China, Cambridge University, Harvard University, Xinhua, Mizuho Bank, Central Financial Commission, Financial Regulatory Locations: Hong Kong, China, Beijing

☆ Taiwan Jan export orders fall more slowly, downside risks remain
▼ + stars: | 2023-02-20 | by ( Faith Hung | ) www.reuters.com time to read: +3 min

The island's export orders, a bellwether for global technology demand, had been 19.3% lower than a year before at $47.51 billion, the Ministry of Economic Affairs said on Monday. While semiconductor demand driven by new technologies would help orders in the traditional low season in the first quarter, "the downside risks of the global economy are still high, which may affect the performance of export orders", the ministry said. The ministry added that it expected export orders this month to be lower than in February 2022 by between 6.9% and 10.8%. Taiwan's January orders from China were 45.9% lower than a year earlier, versus the annual fall of 37.7% seen in December. Export orders from Europe rose 18.3%, versus December's annual fall of 23.9%.

☆ Analysis: Swiss neutrality on the line as arms-for-Ukraine debate heats up
▼ + stars: | 2023-02-06 | by ( John Revill | ) www.reuters.com time to read: +5 min

Buyers of Swiss arms are legally prevented from re-exporting them, a restriction that some representing the country's large weapons industry say is now hurting trade. Under Swiss neutrality, which dates back to 1815 and is enshrined by treaty in 1907, Switzerland will not send weapons directly or indirectly to combatants in a war. Third countries can in theory apply to Bern to re-export Swiss weapons they have in their stocks, but permission is almost always denied. Meanwhile the right-wing Swiss People's Party (SVP), the lower house's largest party and traditionally staunch defenders of neutrality, now appears divided. ($1 = 0.9132 Swiss francs)Reporting by John Revill; editing by John Stonestreet and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ As the world courts TSMC, Taiwan worries about losing its ‘silicon shield’
▼ + stars: | 2022-12-09 | by ( Juliana Liu | ) edition.cnn.com time to read: +6 min

TSMC is considered a national treasure in Taiwan and supplies tech giants including Apple (AAPL) and Qualcomm (QCOM). Chiu claimed that the chip giant was under political pressure to move its operations and its most advanced technology to the US. In response, Wu said there was no secret deal, nor was there any attempt to diminish the importance of Taiwan to TSMC. But he believes the company will continue to manufacture its most advanced technology at home. Many experts believe that by the time 3-nanometer chips are being made in Arizona, TSMC’s Taiwan operations would be producing even smaller, more advanced chips.

Private-sector efforts also have sprung up offering credits for "voluntary" carbon markets, while a range of registries such as Verra and Gold Standard is accrediting and tracking them. The new database - called the Climate Action Data Trust (CAD Trust) - aims to address these issues by collating all the project and carbon credit data in one place and making it free to the public. It brings us up to speed with what is required within the carbon markets," he said. He said Bhutan is in discussions with possible buyers who want details about how carbon credits from its forests are being registered, verified and monitored. "The CAD Trust meets all the technical requirements of host countries and buyers."

☆ Taiwan Oct export orders down more than expected; outlook tough
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +3 min

Export orders, a bellwether for global technology demand, shrank 6.3% in October from a year earlier to $55.4 billion, the Ministry of Economic Affairs said on Monday. The ministry added that it expected export orders this month to be lower by 14.5% to 17.6% than in November 2021. Taiwan's October orders from China plummeted 26.7% from a year earlier, versus September's annual fall of 27.9%. Taiwan's orders from the United States edged up 1.2% from a year earlier, slower than the rise of 2.8% the previous month. Export orders from Europe rose 4.3%, versus September's annual rise of 9.6%.

☆ Liz Truss Brought Libertarians to Power in the U.K. and Quickly Out Again
▼ + stars: | 2022-10-21 | by ( Max Colchester | David Luhnow | ) www.wsj.com time to read: 1 min

LONDON—A few days after Liz Truss first was elected to Britain’s parliament in 2010, she visited the Institute of Economic Affairs, a libertarian think tank in a cramped Georgian house a stone’s throw from Parliament in central London. There she met an old college friend, Mark Littlewood , director general of the IEA, and pitched an idea. “Mark, we are going to set up a caucus of free-market MPs,” Mr. Littlewood recalls her saying.

"I now expect the language of free markets and libertarianism to be consigned to scrap for quite some time. Truss had spent her summer campaign for the party leadership complaining about Britain's weak economic growth, productivity and low pay since the 2008 global financial crisis. Her solution was to challenge economic "orthodoxy" and demand faster, radical action to shake the economy out of its torpor. The Institute of Economic Affairs said of the economic plan: "This isn't a trickle-down budget – it's a boost-up budget." Register now for FREE unlimited access to Reuters.com RegisterEditing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Swiss considering wider EU sanctions on Iran over Amini death
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Oct 18 (Reuters) - Switzerland is considering whether to adopt the strengthened European Union sanctions against Iran following Teheran's crackdown against demonstrators outraged by the death in police custody of 22-year-old Mahsa Amini. The Federal Department of Economic Affairs, Education and Research (WBF) said it had noted the EU had extended sanctions to a further 11 individuals and four organisations in connections with the death of Amini and the reaction to the demonstrations. No time frame was given before Switzerland makes its decision, with the WBF saying it would examine the EU sanctions. A decision could be made by either Economic Affairs Minister Guy Parmelin alone or together with the Swiss cabinet. Neutral Switzerland has already adopted some U.N. and EU sanctions against Iran imposed over the country's nuclear activities and human rights violations.

☆ Apple helps Taiwan export orders resume growth in August, outlook mixed
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +3 min

Orders for telecommunications products rose 3.1% in August from a year ago due mostly to cellphone orders, the ministry said. A trend of working and studying from home that started during the COVID-19 pandemic has fuelled a growth in orders for Taiwanese electronics for more than two years. The ministry said it expected this month's export orders to be between 7% and 9.4% lower than those of September 2021. Taiwan's August orders from China fell 25.5% from a year earlier, compared with an annual fall of 22.6% in July. Export orders from Europe rose 14.6%, versus an annual contraction of 5.1% in July, while those from Japan rose 2.2%.

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