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☆ What Wall Street can expect from key Biden-Xi meeting as U.S.-China relations remain tense
▼ + stars: | 2023-11-14 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Chinese companies, meanwhile, have accelerated in global patent holdings in the cybersecurity sector, according to a recent Nikkei report. More reassurance to Chinese investors To be sure, while these stocks continue to rally, investors in the U.S. largely remain cautious about making any trades based on expectations ahead of the Biden-Xi talks. If anything, Chinese investors could leave Wednesday with more reassurance—which China's economy desperately needs as it struggles to make a post-pandemic recovery. Chinese investors "remain concerned that the deterioration in the bilateral political relationship could have a negative impact on the Chinese economy," Matthews investment strategist Andy Rothman said. Shaun Rein of China Market Research Group told CNBC last week that the meeting "might lower down the temperature," but that he does not expect "anything meaningful" to come from it.

Persons: Joe Biden, Xi Jinping, Frederic Neumann, Neumann, Biden, Xi, Brian Gardner, Gardner, Neo Wang, Wang, Tesla, BYD, Matthews, Andy Rothman, Shaun Rein, Rein, Derek Scissors, CNBC's Organizations: HSBC, Economic Cooperation, South China Morning Post, U.S . Department of Commerce, Nikkei, Micro Devices, Intel, Nvidia, AMD, Micron, MU, Microsoft, Biden, China Market Research Group, CNBC, American Enterprise Institute Locations: China, U.S, Asia, San Francisco, Washington, Beijing, Tesla's China, Europe, South Korea, Japan

☆ Janet Yellen to host China’s top economic official ahead of expected Biden-Xi talks in San Francisco
▼ + stars: | 2023-11-09 | by ( Bryan Mena | Juliana Liu | ) edition.cnn.com time to read: +5 min

Yellen’s talks with China’s new economic tsar will set the stage for the high-stakes potential meeting expected between US President Joe Biden and Chinese President Xi Jinping next week during the Asia-Pacific Economic Cooperation forum in San Francisco. The United States is the host for this year’s summit, which is an annual gathering of top leaders in government and business of the 21 economies in the Pacific Rim. The United States is the host for this year’s summit, which is an annual gathering of top leaders in government and business of the 21 economies in the Pacific Rim. US and Chinese officials are seeking to shore up diplomatic ties and cooperation on economic issues. The International Monetary Fund recently upgraded its forecast for China’s economic growth based on Beijing’s policies aimed at propping up the country’s ailing property sector.

Persons: Janet Yellen, Lifeng, Yellen’s, Joe Biden, Xi Jinping, Antony Blinken, John Kerry, Gina Raimondo, Wang Yi, “, Biden, Xi, ”, Mattie Bekink, Yellen, ” Yellen Organizations: Hong Kong CNN, Economic Cooperation, Washington, Economist Intelligence, Network, Treasury Department, Biden, CNN, Monetary Fund Locations: China, Washington, Hong Kong, Asia, San Francisco, United States, Rim, Beijing, Shanghai, decouple

☆ US lawmakers to unveil bill requiring private equity firms to reveal China investment
▼ + stars: | 2023-11-09 | by ( Karen Freifeld | ) www.reuters.com time to read: +2 min

Senator Bob Casey (D-PA) delivers remarks at the Belmont Water Treatment Center during a visit to Philadelphia, Pennsylvania, U.S., February 3, 2023. REUTERS/Elizabeth Frantz Acquire Licensing RightsNov 9 (Reuters) - Two U.S. senators plan to introduce a bipartisan bill on Thursday that would require private equity firms to make public how much they invest in China and other countries of concern. The bill, set to be introduced by Democratic Senator Bob Casey and Republican Senator Rick Scott, is the latest effort to track U.S. investments in China. U.S. private investment firms have poured more than $80 billion into China between 2018 and 2022, some via pension plans, according to Casey's office. Casey has also co-sponsored a measure that would require government notification of investments in certain sensitive technology sectors in China.

Persons: Bob Casey, Elizabeth Frantz, Rick Scott, Casey, Rick Scott's, Karen Freifeld, Sharon Singleton Organizations: Treatment, REUTERS, Democratic, United, U.S . Securities, Exchange Commission, Senate's, Thomson Locations: Belmont, Philadelphia , Pennsylvania, U.S, China, United States, Iran, Russia, North Korea

☆ Biden administration picks 31 regional tech hubs to spur US innovation
▼ + stars: | 2023-10-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Commerce Secretary Gina Raimondo told reporters the program aimed to diversify the United States away from its traditional tech hubs like Silicon Valley, Seattle and Boston. White House National Economic Director Lael Brainard said the regional tech program makes "smart public investments in critical technologies in every region of the country." The designated regional tech hubs are in places like Montana, Wisconsin, upstate New York, Vermont, Nevada, Illinois and Puerto Rico, and are focused on areas including semiconductors, clean energy, critical minerals, biotechnology, artificial intelligence and quantum computing. Raimondo said the administration next year plans to award about five to 10 of the 31 tech hubs up to $75 million each. Biden this year asked Congress for $4 billion to fund additional regional tech hubs.

Persons: Gina Raimondo, Antony Blinken, Leah, " Raimondo, Joe Biden's, Lael Brainard, Biden, Raimondo, David Shepardson, Jamie Freed Organizations: . Commerce, U.S, State Department, REUTERS, U.S . Commerce Department, White, National, Thomson Locations: U.S, Mexico, Washington , U.S, WASHINGTON, United States, Silicon Valley, Seattle, Boston, Montana , Wisconsin, New York , Vermont , Nevada , Illinois, Puerto Rico, Washington, Idaho, Oklahoma, Wisconsin, China

(AP) — The Biden administration is designating 31 technology hubs touching 32 states and Puerto Rico to help spur innovation and create jobs in the industries that are concentrated in these areas. President Joe Biden is set to announce the hubs on Monday at the White House with Commerce Secretary Gina Raimondo. The tech hubs are the result of a process Raimondo's department launched in May to distribute a total of $500 million in grants to cities. The White House has sought to elevate that message and highlight Biden's related policies as the Democratic president undertakes his 2024 reelection bid. “These Tech Hubs will catalyze investment in technologies critical to economic growth, national security, and job creation, and will help communities across the country become centers of innovation critical to American competitiveness,” the White House said Monday in an emailed statement.

Persons: —, Biden, Joe Biden, Gina Raimondo, “, Raimondo, ”, Seattle — Organizations: White, Seattle, Regional Technology, Innovation, Democratic, “, Tech Locations: REHOBOTH BEACH, Del, Puerto Rico, — Austin , Texas, Boston ; New York, San Francisco, Oklahoma, Rhode Island , Massachusetts, Montana , Colorado , Illinois , Indiana , Wisconsin, Virginia , New Hampshire , Missouri , Kansas , Maryland , Alabama, Pennsylvania, Delaware , New Jersey , Minnesota , Louisiana , Idaho , Wyoming, South Carolina , Georgia, Florida , New York , Nevada , Missouri , Oregon , Vermont , Ohio, Maine, Washington

☆ White House announces 31 tech hubs to focus on AI, clean energy and more
▼ + stars: | 2023-10-23 | by ( Megan Lebowitz | ) www.cnbc.com time to read: +2 min

WASHINGTON — The White House on Monday announced it is designating 31 technology hubs in an effort to improve American competitiveness in the technology sector. The hubs will be able to compete for $40 million to $75 million each in grants, the White House said. The move was authorized under the CHIPS and Science Act, the White House said, which President Joe Biden frequently touts as a highlight of his economic agenda. It also authorized $10 billion to invest in technology hubs nationwide, according to the administration. The hubs focus on a wide range of technological areas, including quantum computing, artificial intelligence, clean energy, medicine and biotechnology.

Persons: Joe Biden, WASHINGTON —, Gina Raimondo, Biden Organizations: U.S . House, Senate, White, WASHINGTON, . Economic Development Administration, U.S . Economic Development Administration Locations: Washington , U.S, U.S, Puerto Rico

The Biden administration said on Monday that it had chosen 31 regions as potential recipients of federal money that would seek to fund innovation in parts of the country that government investment overlooked in the past. The announcement was the first phase of a program that aims to establish so-called tech hubs around the country across a variety of cutting-edge industries, like quantum computing, precision medicine and clean energy. In the coming months, the regions will compete for a share of $500 million, with roughly five to 10 of the projects receiving up to about $75 million each, the administration said. The program will test a central idea of a bipartisan bill that lawmakers passed last year: that science and technology funding should not just be concentrated in Silicon Valley and a few thriving coastal regions but flow to parts of the country that are less populated or have historically received less government funding. Proponents of the program say these investments can tap into pools of workers and economic resources that are not reaching their full potential, and improve the American economy as well as its technological abilities.

Persons: Biden Locations: Silicon Valley

☆ Biden aims to boost investment in clean energy, biotech, semiconductors with tech hubs
▼ + stars: | 2023-10-23 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

The creation of the tech hubs was authorized through the CHIPS and Science Act, which Biden signed into law last year. Raimondo in May announced the launch of the tech hub program with the aim of dispersing $500 million in grants. Tech hubs are going to bring this work to where people live in communities all across America." The hubs are focused on fostering innovation across industries including clean energy, artificial intelligence, semiconductors, biotechnology, medicine, quantum computing and critical minerals. "These tech hubs will be transformational and they're a part of a long line of transformational investment we've made since I took office," Biden said.

Persons: Joe Biden, Eisenhower, WASHINGTON —, Biden, Gina Raimondo, Raimondo, May Organizations: WASHINGTON, Monday, White, Commerce, Tech Locations: Puerto Rico, America, San Francisco , New York, Boston, Austin, U.S, Oklahoma , Massachusetts, Colorado , Ohio, South Carolina, Washington , Alabama, Pennsylvania

☆ The Race to Save Our Secrets From the Computers of the Future
▼ + stars: | 2023-10-22 | by ( Zach Montague | More About Zach Montague | ) www.nytimes.com time to read: +2 min

The danger extends not just to future breaches but to past ones: Troves of encrypted data harvested now and in coming years could, after Q-Day, be unlocked. Current and former intelligence officials say that China and potentially other rivals are most likely already working to find and store such troves of data in hopes of decoding them in the future. Today, the most powerful quantum device uses 433 “qubits,” as the quantum equivalent of transistors are called. That figure would probably need to reach into the tens of thousands, perhaps even the millions, before today’s encryption systems would fall. But within the U.S. cybersecurity community, the threat is seen as real and urgent.

Persons: ”, Glenn S Organizations: National Security Agency, Homeland Security Department Locations: China, Russia, United States

☆ Explainer: Biden combines billions in chipmaking grants with China curbs to keep US ahead
▼ + stars: | 2023-10-17 | by ( Alexandra Alper | ) www.reuters.com time to read: +4 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. Those rules aimed to stem the flow of high-end American artificial intelligence chips and chipmaking tools into China. The United States has been locked in a technology war with China since former President Trump blacklisted Chinese telecoms giant Huawei in 2019. BILLIONS FOR CHIPSThe United States, meanwhile, has been helping non-Chinese chipmakers negotiate with states like Arizona, Texas and New York to set up shop or grow existing operations. According to the Semiconductor Industry Association, the share of global semiconductor manufacturing capacity in the U.S. has decreased from 37% in 1990 to 12% in 2022.

Persons: Florence Lo, Biden, Emily Kilcrease, Trump, Joe Biden, ”, Peter Harrell, TSMC, Alexandra Alper, Jonathan Oatis Organizations: REUTERS, Rights, U.S, Center, New, New American Security, Trade Representative, United, Huawei, Biden, chipmaker Micron, Semiconductor Industry Association, Samsung, Intel, Companies, Chips, Science, Thomson Locations: China, United States, New American, U.S, Arizona , Texas, New York, South, Ohio, Taiwan

Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a signing ceremony following their talks at the Kremlin in Moscow, Russia March 21, 2023. China and Russia declared a "no limits" partnership in February 2022 when Putin visited Beijing just days before he sent tens of thousands of troops into Ukraine, triggering the deadliest land war in Europe since World War Two. Biden has referred to Xi as a "dictator" and has said Putin is a "killer" and a leader who cannot remain in power. Since the Ukraine war, Putin has mostly stayed within the former Soviet Union, though he visited Iran last year for talks with Supreme Leader Ayatollah Ali Khamenei. The United States has warned China against supplying Putin with weapons as Russia, a $2 trillion economy, battles Ukrainian forces backed by the United States and the European Union.

Persons: Vladimir Putin, Xi Jinping, Mikhail Tereshchenko, Putin, Xi Putin, Xi, Joe Biden, Graham Allison, Bill Clinton, Biden, Ayatollah Ali Khamenei, Mao Zedong, Alexander Gabuev, Gabuev, Li Shangfu, Alexei Miller, Igor Sechin, Guy Faulconbridge, Alison Williams Organizations: Kremlin, Sputnik, Forum, Soviet Union, U.S, Harvard University, Reuters, Soviet, United, European Union, Carnegie Russia Eurasia Center, Gazprom, Thomson Locations: Moscow, Russia, China, USSR, MOSCOW, BEIJING, United States, Beijing, Hague, Ukraine, Europe, U.S, Soviet Union, Iran, Communist China, Ukrainian, Siberia, Mongolia

☆ We're keeping an eye on quantum computing, says Aspentech CEO
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're keeping an eye on quantum computing, says Aspentech CEOAntonio Pietri, CEO of Aspentech, says quantum computing will be "quite disruptive" once it becomes commercially available "at scale."

Persons: Antonio Pietri

REUTERS/Toru Hanai//File Photo Acquire Licensing RightsTOKYO, Oct 5 (Reuters) - Fujitsu (6702.T) and research institute Riken on Thursday announced the successful development of Japan's second quantum computer, as part of research efforts around the world to make the nascent technology practical. The 64 qubit quantum computer from Fujitsu and state-backed Riken will be integrated with a 40 qubit quantum computer simulator, as researchers work to eliminate the errors which prevent such systems from providing accurate results. IBM last year launched a 433 qubit quantum computer. Qubits, or quantum bits, are a measure of the power of quantum computers, which use quantum mechanics. China, the U.S. and allied industrial democracies are in a race to take a lead in advanced technology including quantum computing, with President Joe Biden moving to hamper some U.S. investment in Chinese efforts to develop the technology.

Persons: Toru Hanai, Shintaro Sato, Joe Biden, Sam Nussey, Miho Uranaka, Stephen Coates Organizations: Fujitsu, Advanced Technologies, Makuhari, REUTERS, Rights, IBM, Thomson Locations: CEATEC, JAPAN, Chiba, Japan, China, U.S

☆ PsiQuantum targets first commercial quantum computer in under six years
▼ + stars: | 2023-09-28 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - PsiQuantum is aiming to deliver its first commercial quantum computing system in under six years, its CEO said as the startup announced a partnership with the U.S. Department of Energy to develop advanced fridges for its machines. "The first system that's actually capable of solving important problems that people want to know the answer to - that's just a handful of years away," he said in an interview. Estimates for the development of practical quantum computing by other experts in the field typically put it at a decade or even 20 or more years away. The company needs to reach roughly 1 million quantum bits, or qubits, to be of practical use, O'Brien said. Because of the immense computational power in quantum computing, there is a gamut of potential applications from materials science to national security to finance.

Persons: Jeremy O'Brien, GlobalFoundries, O'Brien, Max A, Edwina Gibbs Organizations: U.S . Department of Energy, Accelerator Laboratory, Palo, IBM, Google, Microsoft, Thomson Locations: Palo Alto , California, Silicon, San Francisco

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to health care to retail
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Jeff Marks: The upcoming earnings report should be good considering how strong the beer business is doing. Jim Cramer: Estee Lauder CEO Fabrizio Freda was adamant that this quarter wouldn't be any good so everyone is selling it. (Ronald) Jim Cramer: There is no pressure that could pull oil down with the Saudi Arabia oil cuts and Russia export cuts. Jeff Marks: These oil stocks have become great hedges to inflation again, much like they were last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Jim Cramer, Johnson, Arbitrageurs, Greg, There's, We're, Elliott Management's, I'd, Elliott, Morgan Stanley, Carey, we've, James Gorman, Jim, Estee Lauder, Fabrizio Freda, there's, Dave Cote, Darius Adamczyk, Vimal Kapur, Darius, hasn't, —, Ronald, Rick, We've Organizations: Investing Club, Broadcom, VMWare, AAA, Constellation Brands, Modelo, Elliott Management, Cisco, Palo Alto Networks, Honeywell, Morgan, Morgan Stanley Laguna, GE Healthcare, Natural Resources, Devon Energy, Halliburton, HAL, Costco, Walmart, Kirkland, CNBC Locations: Canada, Johnson, Mel , Pennsylvania, Manville, New Jersey, U.S, Carey , Virginia, Asia, Kyle , Wisconsin, PANW, Omar , Colorado, Saudi Arabia, buybacks, GEHC

☆ US finalizes rules to prevent China from benefiting from $52 billion in chips funding
▼ + stars: | 2023-09-22 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The regulation is the final hurdle before the Biden administration can begin awarding $39 billion in subsidies for semiconductor production. The landmark "Chips and Science" law provides $52.7 billion for U.S. semiconductor production, research and workforce development. The regulation prohibits funding recipients from significantly expanding semiconductor manufacturing capacity in foreign countries of concern for 10 years. The final rules prohibit material expansion of semiconductor manufacturing capacity for leading-edge and advanced facilities in foreign countries of concern for 10 years. The final rule ties expanded semiconductor manufacturing capacity to adding cleanroom or other physical space, defining material expansions as increasing production capacity by more than 5%.

Persons: Florence Lo, Biden, Gina Raimondo, Raimondo, David Shepardson, Kim Coghill Organizations: REUTERS, Rights, U.S . Commerce Department, Commerce Department, Thomson Locations: China, U.S, Russia

☆ GGV Capital, a top Silicon Valley investor, is splitting off its China business as pressure mounts
▼ + stars: | 2023-09-22 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —GGV Capital, a prominent Silicon Valley venture capital firm, has become the latest big investor to break up its US and China operations into separate companies as tensions between the two countries over tech and geopolitics continue to rise. The other side will focus on China, Southeast Asia and South Asia, run from its headquarters in Singapore, by managing partners Jenny Lee and Jixun Foo. Jenny Lee, managing partner of GGV Capital, at a conference in Singapore in September. Lee will co-lead the Asia side of the business as it becomes its own firm, according to GGV. Asked whether the US order or wider geopolitical tensions had factored into its decision, GGV Capital declined to comment.

Persons: Glenn Solomon, Hans Tung, Jeff Richards, Oren Yunger, Jenny Lee, Jixun, Lee, Slack, ByteDance, Didi, Biden, “, ” Organizations: Hong Kong CNN — GGV, Jiyuan, GGV, Bloomberg, Getty, CNN, Sequoia Locations: China, Hong Kong, North America, Latin America, Europe, Israel, India, California, New York, Southeast Asia, South Asia, Singapore, Asia, United States, China’s Xinjiang, Dentons

☆ Small investors are losing their interest in AI — except for one resilient stock
▼ + stars: | 2023-09-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Retail investor interest in artificial intelligence is cooling — but not every stock is feeling the pressure, according to Vanda Research. It also arrives amid a broader pullback among retail investors, he noted. "Retail investors' net buying of US securities remains low relative to previous years - particularly within the realm of AI stocks, which are witnessing diminishing retail interest as the initial fervor surrounding the sector wanes," Iachini said. But that resilience in the face of rapidly growing short interest can be a "cautionary flag" of a future slide in retail trader interest. Short interest in Nvidia has declined, coinciding with a jump in the stock price, Iachini said.

Persons: Marco Iachini, Iachini, IonQ Organizations: Vanda Research, Nvidia, Big Tech

☆ House committee targets crackdown on U.S. investment in Chinese tech, military development
▼ + stars: | 2023-09-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — Members of a bipartisan House committee examining economic competition between the U.S. and China said Tuesday that Congress needs to legislate barriers for American investment in Chinese companies, including artificial intelligence. Gallagher, R-Wisc., said during the hearing that American companies continuing to invest in blacklisted Chinese firms are helping to fund the Chinese government's push to invade Taiwan. Government employee pension funds are also at play. Rep. Raja Krishnamoorthi, D-Ill., ranking member of the committee, cited a May Newsweek report stating that at least 115 mutual funds offered under the federal government's Thrift Savings Plan contain one or more of 30 sanctioned or watch-listed Chinese companies that threaten national security. "By investing in these companies we risk supporting the CCP's military aggression and their human rights abuses," Krishnamoorthi said.

Persons: Mike Gallagher, Gallagher, Raja Krishnamoorthi, Krishnamoorthi Organizations: WASHINGTON, U.S, Chinese Communist Party, Newsweek Locations: China, Taiwan

☆ Biden, Modi discuss rail deal, democracy as U.S. press sidelined
▼ + stars: | 2023-09-08 | by ( Nandita Bose | ) www.reuters.com time to read: +5 min

Biden and Modi last met in person in June when the Indian leader was the guest of a White House state visit. U.S. Treasury Secretary Janet Yellen joined Friday's meeting, as did White House national security adviser Jake Sullivan, the White House said in a statement. Biden spoke to Modi about the importance of a healthy democracy, Campbell told reporters. Modi, of the Hindu nationalist Bharatiya Janata Party, has faced criticism about shrinking press freedom in India since he took office. His allies attacked the reporter afterward, in a targeted online harassment campaign that the White House later called "unacceptable" and "antithetical to the very principles of democracy."

Persons: Joe Biden, Narendra Modi, Biden, We're, we've, Kurt Campbell, Campbell, Eileen Laubacher, Modi, amiably, Janet Yellen, Jake Sullivan, Subrahmanyam, Ajit Doval, Amit Dave, Nandita Bose, Steve Holland, Heather Timmons, Grant McCool Organizations: Indian, U.S, U.S . National Security Council, South, U.S ., General Electric, Treasury, Friday's, White, REUTERS, World Bank, Biden, Bharatiya Janata Party, White House, Thomson Locations: DELHI, New Delhi, India, East, Europe, U.S, South Asia, Washington, Delhi, China, Africa, Latin America, Asia, Vietnam, United States, American

☆ Opinion: The ‘rising superpower’ myth about China
▼ + stars: | 2023-09-07 | by ( Opinion Peter Bergen | Joel Rayburn | ) edition.cnn.com time to read: +12 min

He was the US Special Envoy for Syria and the senior director for Iran, Iraq, Syria and Lebanon on the National Security Council staff during the Trump administration. After that, China’s National Bureau of Statistics said it would suspend publishing youth unemployment data in the future. What does it signify that China’s national power, which today is vast, is almost certain to be weaker in the future? If Xi and his strategists have a feasible plan for nimbly averting China’s demographic doom, they are keeping very quiet about it. This brings us back to the question of national security strategies for the United States and its allies.

Persons: Peter Bergen, Peter Bergen ”, Joel Rayburn, Trump, Biden, Saddam Hussein’s, Lloyd Austin, China’s, Xi Jinping, Stephen Shaver, ”, Ng Han Guan, Xi, China “, ” Trump Organizations: New, Arizona State University, Apple, Spotify, American Center for Levant Studies, New America, US, National Security Council, CNN, Strategy, Pentagon, of Defense, Development Research Center, Communist Party, UPI, Manpower, Census Bureau, National Bureau of Statistics, Financial, China’s Southwestern University of Finance, Economics, Rocky, United Nations, Beijing, Pew Research Center, Communist, Trump administration’s National Security, Twitter, Trump Locations: New America, Syria, Iran, Iraq, Lebanon, Washington, China, United States, Saddam Hussein’s Iraq, al Qaeda, Ukraine, People’s Republic of China, Beijing, India, Yarkent County, China's Xinjiang Uyghur Autonomous Region, Saudi Arabia, USSR, Russia, Russia’s Ukraine, Vietnam, Korea, Italy, Japan, Taiwan, Hong Kong

☆ Startup investors are fueling a boom in U.S. defense tech as China standoff opens doors at home
▼ + stars: | 2023-09-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +11 min

Louie added that he doesn't "know of a single major fund out there that isn't thinking about disruptive tech investing in the U.S., investing in defense tech, investing in microelectronics and AI in the next generation and next iteration." Stephen McCarthy | Sportsfile | Getty ImagesVC funding in aerospace and defense tech has shot up in recent years, according to data compiled by PitchBook for CNBC. The poster child for U.S.-focused defense tech is Anduril Industries, co-founded in 2017 by Oculus Rift designer Palmer Luckey. They can just look at the untapped potential in defense tech. "The government's becoming a better customer," said Shah, who previously served as managing partner of the Defense Department's Defense Innovation Unit, which seeks to accelerate the use of emerging technologies.

Persons: Hadrian, Chris Power Hadrian, Joe Biden, Gilman Louie, Alsop, Louie Partners, He's, Louie, Biden, Lindsay Gorman, she's, Gorman, Chris Power, Power, Hadrian's, Peter Thiel's, Palmer Luckey, Stephen McCarthy, Sportsfile, Anduril, Richard Jenkins, Bilal Zuberi, Lux, Zuberi, Jenkins, Saildrone didn't, Paul Kwan, Catalyst, What's, Kwan, Kyle Harrison, Saul Loeb, Raj Shah, Josh Wolfe, There's, Shah, Wolfe Organizations: Chris Power Hadrian Automation, America's Frontier, U.S, Marshall Fund's Alliance, Securing Democracy, Lux Capital, Fund, Andutil Industries, Enercare Center, Getty, PitchBook, CNBC, Industries, Oculus, Blue Force Technologies, Oceanic, Atmospheric Administration, Navy, Coast Guard, Google, Intel, AFP, Shield, Lux, Defense Department's Defense Innovation Unit, Power, YouTube, China Locations: China, U.S, America, Torrance , California, Los Angeles, Toronto, Canada, Ukraine, New Albany , Ohio, Silicon

☆ China says drop in trade with the U.S. is 'a direct consequence of U.S. moves'
▼ + stars: | 2023-08-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Jason Lee | ReutersBEIJING — China's ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries. "This is a direct consequence of U.S. moves to levy Section 301 tariffs on Chinese imports, abuse unilateral sanctions and further tighten up export controls," he said. China's trade partnersThe U.S. is China's largest trading partner on a single country basis. Following her meetings with Chinese government officials, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets. Xie claimed that average U.S. tariffs on Chinese products were 19%, while the Chinese tariffs on U.S. goods averaged 7.3%.

Persons: Jason Lee, Xie Feng, Xie, Gina Raimondo's, Raimondo, Trump, Joe Biden, Janet Yellen Organizations: Reuters, Reuters BEIJING —, Forbes, U.S, China Business Forum, European Union and Association of Southeast, . Commerce Secretary, . Commerce, The Locations: Washington, Beijing, Taiwan, South China, Reuters BEIJING, U.S, China, New York, U.S . China, United States, Nations, France, Japan, The U.S

Her visit, which will include meetings with business leaders and government officials, including her Chinese counterpart, Wang Wentao, will be closely watched as she looks for common ground on trade, even as she seeks to curtail it. Here is what Ms. Raimondo expects to focus on during her trip, according to The Times’s Ana Swanson, Alan Rappeport and Keith Bradsher. Ms. Raimondo is likely to defend the escalating tech war, which she will argue is meant to protect U.S. national security. (Ms. Raimondo said on Monday that she would neither compromise nor negotiate on that point.) The White House this month announced plans to bar private equity and venture capital firms from making investments in China in quantum computing and advanced semiconductors.

Persons: Raimondo, Gina Raimondo, Wang Wentao, Ana Swanson, Alan Rappeport, Keith Bradsher, Ms Organizations: China, Biden administration’s, U.S Locations: Beijing, China

☆ The US needs a stable Chinese economy. Will Biden’s commerce secretary offer help?
▼ + stars: | 2023-08-24 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —US Commerce Secretary Gina Raimondo will travel to China next week, a visit that coincides with a worsening slowdown in the world’s second largest economy. Gina Raimondo, US commerce secretary, speaks during the SelectUSA Investment Summit in National Harbor, Maryland, US, on Tuesday, May 2, 2023. The Commerce Department announced on Monday that it was removing 27 Chinese companies from US export controls. China’s Ministry of Commerce welcomed the decision, saying it was conducive to trade and reflected the interests of both sides. That was followed earlier this month by President Biden signing an executive order that limits US investment in certain tech sectors of the Chinese economy, including AI and quantum computing.

Persons: Gina Raimondo, Raimondo, ”, Craig Singleton, Ting Shen, Trump, Biden, “, Washington, Donald Trump, It’s, Xi, Singleton, — Kylie Atwood, Jeremy Diamond Organizations: Hong Kong CNN — US, Washington, Foundation for Defense of Democracies, Commerce Department, Beijing, SelectUSA Investment, Bloomberg, Getty, China’s Ministry of Commerce, ” Eurasia Group, Apple, Nike, Intel, Microsoft, General Motors, US Treasury Department, Mintz Group, Bain & Company, Communist Locations: Hong Kong, China, Beijing, Washington, Shanghai, National Harbor , Maryland, United States, Europe, Japan, New York, court

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