DIRS.INFO The most relevant business & tech news

☆ The United States and Europe need China for clean energy. They will pay a price to break free
▼ + stars: | 2024-08-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

London CNN —The United States and Europe are racing to narrow China’s commanding lead in clean energy technologies, throwing subsidies at local manufacturers and hiking tariffs on Chinese imports in a strikingly protectionist turn. Without China’s electric vehicles (EVs), solar panels, wind turbines, and batteries, reducing planet-heating pollution could take longer and ultimately increase costs for businesses and consumers. Beijing’s virtual monopoly on the processing of some critical minerals comes with particular risks for the global green transition. Zhu Haipeng/VCG/APAny delay in switching to clean energy will exact a heavy toll on the planet. Birol at the IEA also advocates for trade policies that diversify supply chains while reducing the risk of delays to the clean energy transition.

Persons: “, Margrethe Vestager, ”, ” Fatih Birol, David G, Victor, Michael R, Davidson, ” Victor, Pierre, Olivier Gourinchas, Zhu Haipeng, Victor of, Birol, don’t Organizations: London CNN, Russia, Getty, ”, International Energy Agency, Global, University of California, CNN, Monetary Fund, McKinsey Global Institute, Victor of University of California, IEA Locations: United States, Europe, China, Lianyungang, Washington, Netherlands, Japan, Beijing, of Taicang, Suzhou, Brookings, University of California San Diego, Fuzhou, Victor of University of California San Diego

☆ China rushes to swap Western tech with domestic options as U.S. cracks down
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +10 min

China spent 1.4 trillion yuan ($191 billion) replacing foreign hardware and software in 2022, marking a year-on-year increase of 16.2%, according to IT research firm First New Voice. Two firms awarded the Harbin tenders were subsidiaries of China Electronics Corporation and China Electronics Technology Group Corporation - both heavily targeted by U.S. sanctions. The U.S. Department of Commerce, China Electronics Corporation and China Electronics Technology Group Corporation did not return requests for comment. Despite heavy spending on domestic substitution, however, foreign firms are still dominant suppliers for banking and telecoms database management. Non-Chinese companies held 90% of market share for banking database systems at the end of 2022, according to EqualOcean, a tech consultancy.

Persons: Tyrone Siu, Kendra Schaefer, Mo Jianlei, Eric Zheng, Brenda Goh, Katerina Ang Organizations: REUTERS, Companies Beijing, Reuters, New, Trivium China, Liberation Army, Tech, Chinese Academy of Sciences, BMC, U.S, Cyberspace Security, China Telecommunications Corporation, Qualcomm, U.S . Treasury, Google, Apple, China Electronics Corporation, China Electronics Technology Group Corporation, Microsoft, Adobe, China Tobacco, Microsoft Windows, Chinese Academy of Engineering, European Union Chamber of Commerce, of Commerce, Shanghai, U.S . Department of Commerce, HUAWEI, Huawei, IDC, Financial, Lenovo, HK, Beijing, Thomson Locations: Dongguan, Guangdong province, China, BEIJING, Washington, State, Beijing, Gansu province, Harbin, Xiamen, U.S, American, Shanghai

☆ Treasury's Yellen says US overdependent on China for critical supply chains
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

U.S. Treasury Secretary Janet Yellen addresses a news conference during a G20 finance ministers' and Central Bank governors' meeting at Gandhinagar, India, July 16, 2023. REUTERS/Amit Dave/File Photo Acquire Licensing RightsWASHINGTON, Oct 3 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday the United States has become overly dependent on China for critical supply chains, particularly in clean energy products and needs to broaden out sources of supply. Yellen, speaking at a Fortune CEO event in Washington, repeated her longstanding view that the United States does not want to decouple economically from China. "We're fooling ourselves if we think that abandoning, for all practical purposes, semiconductor manufacturing, is a smart strategy for the United States," Yellen said. Reporting by David Lawder and Kanishka Singh in Washington; editing by Jonathan Oatis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Amit Dave, Yellen, David Lawder, Kanishka Singh, Jonathan Oatis, Deepa Babington Organizations: Treasury, Central Bank governors, REUTERS, Rights, . Treasury, United, Thomson Locations: Gandhinagar, India, United States, China, Washington, U.S

☆ Starlink has become the 'blood' of Ukraine's communication infrastructure, but officials are reportedly growing concerned about relying on Elon Musk's tech
▼ + stars: | 2023-07-29 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

A Ukrainian official told The New York Times that Starlink satellites are vital to their communication systems. His fears stem from several months of back-and-forth with Musk about the use of Starlink internet in the war against Russia. Mykhailo Fedorov told The Times that Starlink has become the "blood" of Ukrainian communication infrastructure. Starlink satellites, then, are invaluable resources — but also ones that Fedorov told The Times he's worried Ukraine has become overdependent on. In September 2022, Ukrainian officials revealed Musk had blocked Starlink internet access in Russian-occupied Crimea, citing concerns about escalating the conflict.

Persons: Musk, Mykhailo Fedorov, Starlink, Fedorov, he's, Mykhailo Podolyak, SpaceX — Organizations: New York Times, Russia, Service, Elon, The New York Times, Times, Pentagon, SpaceX Locations: Wall, Silicon, Russia, Ukraine, Crimea

London/Berlin CNN —Germany announced Thursday that it would reduce its dependence on China in “critical sectors” including medicine, lithium batteries used in electric cars and elements essential to chipmaking. The government published its first ever “Strategy on China,” a 40-page document that highlights the tightrope Berlin must walk in managing its dependence on the world’s second-largest economy amid growing criticism of Beijing’s human rights record and attitude towards international law. China is Germany’s most important trading partner, with imports and exports between the two nations reaching nearly €300 billion ($335 billion) in 2022, according to the government. China is a crucial partner in tackling climate change, pandemics and sustainable development, the strategy paper added. China is a key market for several major German companies, including Volkswagen (VLKAF) and BMW, and the government said it planned to hold talks with firms “particularly exposed to China” with a view to “identifying concentration risks.”

Persons: Berlin CNN —, ”, Chancellor Olaf Scholz’s, ” Scholz, Olaf Scholz, Germany Heiko Becker Organizations: Berlin CNN, Siemens, Reuters, Volkswagen, BMW Locations: Berlin, China, ”, Beijing, Germany, overdependent, EU, Bavaria

☆ Ukraine has more pluses than minuses for climate
▼ + stars: | 2022-09-26 | by ( Hugo Dixon | ) www.reuters.com time to read: +8 min

This new “dash for gas” could lock in irreversible global warming or create a mass of stranded assets, according to Climate Action Tracker. Register now for FREE unlimited access to Reuters.com RegisterZOMBIE DIPLOMACYAs if this is not enough, climate diplomacy has broken down. Dialogue between Xie Zhenhua and John Kerry, the two countries’ top climate diplomats, created momentum around last year’s COP26 talks. The agency now expects global gas demand between 2021 and 2025 to rise by less than half the amount it previously forecast. The world is heading to at least 2.4 degrees of warming, if not more, according to Climate Action Tracker.

Search resuls for: "overdependent"

6 mentions found