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☆ Bernie Sanders says Silicon Valley Bank's failure is the 'direct result' of a Trump-era bank regulation policy
▼ + stars: | 2023-03-13 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Sen. Bernie Sanders is blaming a Trump-era policy for the Silicon Valley Bank run. "Now is not the time for US taxpayers to bail out Silicon Valley Bank. The Federal Deposit Insurance Corporation shut down the Silicon Valley Bank on Friday following a catastrophic bank run. The collapse of Silicon Valley Bank has now become the largest bank failure in the US since the 2008 financial crisis. However, startups with money in Silicon Valley Bank exceeding $250,000 are now in danger of not being able to make payroll next week.

☆ Xi Jinping wants China's army to work closely with the country's tech giants, further blurring the lines between the military and civilian sectors
▼ + stars: | 2023-03-10 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Chinese leader Xi Jinping wants China's army to work more closely with local tech giants. Chinese tech firms are already facing intense scrutiny in the US over their ties to the CCP. "To consolidate and improve the integrated national strategic system and capabilities, the key is to work hard on integration to maximize national strategic capabilities," he said. Chinese tech companies are already under intense scrutiny in the USXi's emphasis on forging closer ties between the Chinese military and civilian tech companies comes amid intense scrutiny from the US government on how Chinese tech giants are using the data they harvest. Huawei, Hikvision, and Dahua are among the Chinese tech firms blacklisted by the US.

Reps. Lauren Boebert and Marjorie Taylor Greene have both inadvertently slammed the Trump administration in recent weeks. Greene falsely blamed the Biden administration for fentanyl deaths that happened while Trump was in office. MAGA-faithful Reps. Lauren Boebert and Marjorie Taylor Greene have both inadvertently slammed the Trump administration in recent weeks while trying to take shots at President Joe Biden. Rep. Matt Gaetz, meanwhile, got schooled for unknowingly basing a critique of Biden's policies on a Communist newspaper. Gaetz tried to recover, pressing Kahl to "just tell me if the allegation is true or false."

WASHINGTON, March 8 (Reuters) - China will maintain its cooperation with Russia to continue trying to challenge the United States despite international concerns about the invasion of Ukraine, U.S. intelligence agencies said on Wednesday. "Despite global backlash over Russia's invasion of Ukraine, China will maintain its diplomatic, defense, economic, and technology cooperation with Russia to continue trying to challenge the United States, even as it will limit public support," they said in a report released as the Senate Intelligence Committee held its annual hearing on worldwide threats to U.S. security. "The next few years are critical as strategic competition with China and Russia intensifies in particular how the world will evolve, and whether the rise of authoritarianism can be checked and reversed," Haines added. Haines described "a grinding, attritional war" in Ukraine and said U.S. intelligence does not foresee the Russian military recovering enough this year to make major territorial gains. Reporting by Patricia Zengerle, Jonathan Landay, Michael Martina; Editing by Doina Chiacu;Our Standards: The Thomson Reuters Trust Principles.

☆ TikTok could be a valuable tool for China if it invades Taiwan, FBI director says
▼ + stars: | 2023-03-08 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

New York CNN —The Chinese government could use TikTok to control data on millions of people and harness the short-form video app to shape public opinion should China invade Taiwan, FBI Director Christopher Wray told the Senate Intelligence Committee Wednesday. Wray responded affirmatively to questions from Republican Sen. Marco Rubio of Florida, the panel’s ranking member, on whether TikTok would allow Beijing widespread control over data and a valuable influence tool in the event of war in the Taiwan Strait. Rubio, the top Republican on the Senate panel, argued that TikTok presents “a substantial national security threat for the country of a kind that we didn’t face in the past.”Wray’s comments come a day after Gen. Paul Nakasone, head of the US National Security Agency, told the Senate Armed Services Committee that he worried TikTok could censor videos to shape public opinion in a way that threatens US national security interests. The company is also negotiating a possible agreement with the Biden administration that could allow TikTok to continue operating in the United States under certain conditions. In a statement this week, a TikTok spokesperson said a US government ban would stifle American speech and would be “a ban on the export of American culture and values to the billion-plus people who use our service worldwide.”– CNN’s Brian Fung and Catherine Thorbecke contributed to this report.

☆ Watch live: U.S. House China panel holds first hearing after lawmakers push seven bills targeting Beijing
▼ + stars: | 2023-02-28 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

Gallagher and Rep. Raja Krishnamoorthi, D-Ill., ranking member of the select committee, called the balloon a "violation of American sovereignty" in a joint statement. The administration's move prompted the advancement of several bills designed to bolster U.S. national security against China. Seven out of 10 bills passed by the House Financial Services Committee Tuesday addressed China or its neighbor, Taiwan. The Select Committee will not allow the CCP to lull us into complacency or maneuver us into submission." Matthew Pottinger, former U.S. Deputy national security adviser; former U.S. National Security Adviser H.R.

☆ China's CCP warns Elon Musk against sharing Wuhan lab leak report
▼ + stars: | 2023-02-28 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

A Chinese state-run newspaper issued a warning to Tesla CEO Elon Musk after he shared reporting on the Department of Energy's 'low confidence' assessment that the global Covid pandemic originated in a Wuhan laboratory. CNBC's Eunice Yoon reported Tuesday morning on the warning from the social media pages of the Global Times, the English-language subsidiary of the CCP-controlled People's Daily. The Global Times warned Musk that he could be "breaking the pot of China" after the Tesla and Twitter chief executive responded to Tweets that asserted that the Covid pandemic originated in a Wuhan research laboratory. The governing Communist Party has been highly sensitive to the matter, especially as it courts outside investment after months of zero-Covid lockdowns prompted nationwide protests, CNBC's Eunice Yoon reported. CNBC's Eunice Yoon contributed to this report

Instead the opposite happened," said Representative Raja Krishnamoorthi, the top Democrat on the select committee, in his opening remarks. McMaster said the United States must put a priority on expediting delivery of billions of dollars of weapons and munitions that Taiwan has already purchased. Although the committee is bipartisan, some Democratic lawmakers have voiced concerns that it could fuel anti-Asian sentiment within the United States. The select committee has 13 Republican and 11 Democratic members. It will not write legislation, but will draw attention to competition between the United States and China on a range of fronts and make policy recommendations.

☆ U.S. approved 70% of export license applications from China in 2022
▼ + stars: | 2023-02-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 27 (Reuters) - The U.S. Commerce Department and other government agencies approved about 69.9% of export license applications involving China in the 2022 budget year, according to written testimony made public ahead of a U.S. House hearing Tuesday. Companies on the Entity List are restricted from receiving U.S.-origin goods and technology. Commerce also maintains the Unverified List (UVL) that requires checks for U.S. technology use. BIS warned in October that unverified users could be moved to the more restrictive Entity List. Estevez said it removed 25 of 28entities from the unverified list after checks in late 2022.

☆ A growing group of lawmakers think TikTok is 'digital fentanyl' and want to ban it. Many others remain skeptical.
▼ + stars: | 2023-02-24 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +10 min

Some members of Congress have begun pushing to ban TikTok in the US. "I'm a little less enthusiastic about an all-out ban of it," said Republican Sen. Kevin Cramer of North Dakota. "I'm an incrementalist on a lot of things, and I would be on this as well," said Republican Sen. Cynthia Lummis of Wyoming. Last week, the Senate Judiciary Committee held a hearing on social media and the internet's impact on children. Democratic Sen. Mazie Hirono of Hawaii, another committee member, said she's most concerned about how social media platforms are impacting kids.

☆ U.S. House panel to hold hearing on policy toward China
▼ + stars: | 2023-02-21 | by ( Karen Freifeld | ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - The House Foreign Affairs Committee will hold a hearing next Tuesday with top officials on China policy to identify gaps in pursuing what it called a "more holistic approach" to countering aggression by the Chinese Communist Party. The hearing, announced by the panel's chair, Representative Michael McCaul, a Republican, is called, "Combating the Generational Challenge of CCP Aggression." Alan Estevez, the U.S. Commerce Department's under secretary for industry and security, who oversees restrictions on tech exports to China, is among the witnesses. McCaul has been pressing Estevez on the need to ensure China is not transferring U.S.-origin technology to state sponsors of terrorism, and has called for tighter restrictions on exports to blacklisted companies like China's Huawei, which are viewed as a threat to U.S. national security. Reporting by Karen Freifeld; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ China offers 'no apology' in first meeting after spy balloon incident, Blinken says
▼ + stars: | 2023-02-19 | by ( ) www.cnbc.com time to read: +2 min

U.S. Secretary of State Antony Blinken told NBC News' "Meet the Press" that China's senior foreign minister Wang Yi offered "no apology" for the spy balloon that floated over the U.S. during their meeting on the sidelines of the Munich Security Conference. China's senior foreign minister offered "no apology" in his meeting with Secretary of State Antony Blinken for the spy balloon that floated over the U.S., Blinken said in an interview Saturday on NBC News' "Meet the Press." "There was no apology," Blinken said of his conversation with Wang Yi, director of the People's Republic of China CCP Central Foreign Affairs office. Blinken met with Wang on Saturday on the sidelines of the Munich Security Conference in Germany prior to the interview. Blinken said the U.S. isn't the only nation that has been subject to Chinese spy balloons.

☆ Blinken meets with senior Chinese diplomat in Munich amid tensions over suspected spy balloon
▼ + stars: | 2023-02-18 | by ( Andrea Mitchell | Christina Zhao | ) www.cnbc.com time to read: +3 min

Secretary of State Antony Blinken on Saturday met with a senior Chinese diplomat at a conference in Munich, a State Department spokesperson said. Diplomatic tensions between the U.S. and China have risen since the shooting down of the alleged Chinese spy balloon, which China has insisted was not intended for spying. Earlier Thursday, Biden delivered his first remarks about the Chinese balloon and three unidentified objects flying above North America that were downed by the U.S. military. One was shot down Feb. 10 over Alaska, another was shot down Feb. 11 over Canada, and a third was shot down over Lake Huron on Feb. 12. U.S. Northern Command said Friday it recommended an end to the search for debris from two objects shot down in United States airspace this month.

☆ Matt Gaetz called for Biden to 'blow up TikTok' after the Air Force shot down the suspected Chinese spy balloon
▼ + stars: | 2023-02-06 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

The US Air Force shot down a suspected Chinese spy balloon on Saturday using an F-22 fighter jet. "It is an intelligence tool for the Chinese communist party, and no spunky dance is worth having the Chinese communist party being able to exploit information from almost every American family," Gaetz told WEAR-TV. In China, the TikTok app is known as Douyin. It opens the door for the Chinese Communist Party to access Americans' personal information, keystrokes, and location through aggressive data harvesting," Hawley wrote on his website. Hawley's bill came after after a bipartisan bill also aiming to ban TikTok was introduced on December 13.

☆ Republicans are blaming Biden for letting a suspected Chinese spy balloon cross into the US. It happened 3 times during the Trump administration, officials say.
▼ + stars: | 2023-02-05 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Republicans are criticizing the Biden administration's response to the Chinese spy balloon. "Would Trump have let China fly a spy balloon over our country?" Chinese spy balloons were sighted three times during the Trump administration, US officials said. The CCP [Chinese Communist Party] can send spy balloons over our nuclear silos and we will do nothing." It's unclear what information the suspected Chinese spy balloon could have gleaned from its various positions.

☆ Marjorie Taylor Greene calls on Biden to shoot down Chinese spy balloon, says Trump would have done so already
▼ + stars: | 2023-02-03 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Marjorie Taylor Greene called on the Biden admin to shoot down a suspected Chinese spy balloon. In a tweet late Thursday, Greene wrote: "Biden should shoot down the Chinese spy balloon immediately. Marjorie Taylor Greene🇺🇸 (@RepMTG) February 2, 2023On Thursday evening it was reported that the US military was tracking a high-altitude surveillance balloon, first spotted over Montana, which it believes with "very high confidence" to be of Chinese origin. In a Truth Social post, Trump appeared to agree with Greene, sharing a post by rightwing activist and conspiracy theorist Jack Posobiec. The CCP [Chinese Communist party] can send spy balloons over our nuclear silos and we will do nothing.

☆ Democratic senator urges Apple, Google to kick TikTok out of app stores
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 2 (Reuters) - TikTok, owned by China's ByteDance, should be removed from app stores run by Apple Inc (AAPL.O) and Alphabet's (GOOGL.O) Google because the short video social media app poses a risk to national security, Senator Michael Bennet, a Democrat on the intelligence committee, said in a letter dated Thursday. "Given these risks, I urge you to remove TikTok from your respective app stores immediately," he wrote. Prior to Bennet's letter, Republicans have largely led the charge on TikTok and national security concerns, although Democratic Senator Dick Durbin previously urged Americans to stop using the app. For its part, the company says China's government cannot access the personal data of U.S. citizens or manipulate the app's content. TikTok Chief Executive Shou Zi Chew is due to appear before the U.S. House Energy and Commerce Committee in March.

☆ Apple and Google should boot TikTok from their app stores, Democratic senator urges
▼ + stars: | 2023-02-02 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

Sen. Michael Bennet, D-Colo., urged the CEOs of Apple and Google to remove TikTok from their mobile app stores immediately in a letter on Thursday, citing widespread concerns that the Chinese government could access information on Americans using the app. "These obvious risks render TikTok, in its current form, an unacceptable threat to the national security of the United States." TikTok has repeatedly sought to reassure concerned American lawmakers and officials that it does not store U.S. user data in China. It has also been negotiating with the U.S. government about how it can mitigate potential national security risks while continuing to operate here. "Unfortunately, Senator Bennet's letter relies almost exclusively on misleading reporting about TikTok, the data we collect, and our data security controls," TikTok spokesperson Brooke Oberwetter said in a statement.

[1/2] Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. "If Taiwan falls into the sphere of influence of CCP, then the beacon of democracy will be destroyed. Speaking through a translator, You said about 50% of global shipping used the Taiwan Strait between the island and China, "so it has very important economic significance for the global trade." "And ... Taiwan has produced the best semiconductor chips and will be very important for global trade as well," he said. "So if Taiwan cannot be safeguarded very carefully, it will be very dangerous to global trade as well as global peace."

☆ Alibaba, Tencent 'golden shares': China is pulling different strings to control Big Tech
▼ + stars: | 2023-01-27 | by ( Laura He | ) edition.cnn.com time to read: +6 min

According to a person familiar with the matter, the Chinese government is also discussing taking a similar stake in a mainland Chinese subsidiary of Tencent (TCEHY), the group that includes WeChat and a vast gaming business. The headquarters of the Cyberspace Administration of China in Beijing, China on July 16, 2021. “Golden shares” give their owners, usually governments, some level of control over companies, often those that were previously state-owned. In April 2021, a government entity acquired a 1% stake in a Beijing subsidiary of TikTok’s parent company Bytedance, according to Qichacha. The Communist Party may be easing off on fines and penalties, but the “golden shares” approach seeks the same end, which is “control and tight oversight,” said Capri.

☆ Virginia Gov. Youngkin stokes 2024 campaign speculation after killing Ford battery plant over China links
▼ + stars: | 2023-01-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

But this week, Virginia Republican Gov. (Virginia doesn't allow governors to serve consecutive terms, so Youngkin can't seek re-election.) “There’s a logic to the politics of Youngkin’s decision,” said Liam Donovan, a Republican strategist and lobbyist. Gretchen Whitmer telling the Detroit News that Youngkin’s “political determination” created an “exciting opportunity” for her state. “Carlyle makes a lot of money out of China,” said Surovell, the Democratic state senator.

Rep. Judy Chu, D-Calif., the chair of the Congressional Asian Pacific American Caucus (CAPAC), said she has personally spoken to Jeffries and recommended that Rep. Andy Kim, D-N.J., should be the ranking member. “The Republicans made it very clear that the committee is primarily focused on … counter intelligence and economic espionage issues which have been the focus of my own work, especially on the Intelligence Committee,” Krishnamoorthi said in an interview. Rep. Elissa Slotkin, D-Mich., a former CIA analyst who is eyeing a possible Senate bid in 2024, has also expressed interest in the top role on the China panel. But while CAPAC is divided, its members agree that the ranking member of the new panel should be Asian American. Think about that," said one CAPAC member.

☆ DeSantis considers banning 'hostile nation' China from buying Florida real estate, polishing tough-on-China foreign policy stance amid 2024 speculation
▼ + stars: | 2023-01-10 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

DeSantis is considering asking the Florida legislature to ban China from real estate investments. Ron DeSantis is poised to ask state lawmakers to ban China from buying farmland and residences in Florida, the governor confirmed Tuesday. While foreign policy generally tends to be a small part of a governor's role, such actions on China could add to DeSantis' foreign policy portfolio. Before becoming governor, DeSantis representing Florida in the US House, where he served on the Foreign Affairs Committee and chaired the Subcommittee on National Security. Santa Claus may need to not do Chinese toys."

☆ TikTok is ‘digital fentanyl,’ incoming GOP China committee chair says
▼ + stars: | 2023-01-01 | by ( Andrew Millman | ) edition.cnn.com time to read: +6 min

Washington CNN —TikTok is an addictive drug China’s government is providing to Americans, says the incoming chairman of a new House select committee on China. TikTok, whose parent company, ByteDance, is Chinese-owned, has been banned from electronic devices managed by the US House of Representatives, according to an internal notice sent to House staff. The move comes after more than a dozen states in recent weeks have implemented their own prohibitions against TikTok on government devices. “We have to ask whether we want the CCP to control what’s on the cusp of becoming the most powerful media company in America,” he told NBC. Security experts have said that the data could allow China to identify intelligence opportunities or to seek to influence Americans through disinformation campaigns.

☆ Biden signs TikTok ban for government devices amid security concerns
▼ + stars: | 2022-12-30 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +8 min

President Joe Biden approved a limited TikTok ban Thursday when he signed the 4,126-page spending bill into law. The ban prohibits the use of TikTok by the federal government’s nearly 4 million employees on devices owned by its agencies, with limited exceptions for law enforcement, national security and security research purposes. Since 2020, a bubbling movement led largely by conservatives has maintained a minor interest in a TikTok ban. “We’re disappointed that Congress has moved to ban TikTok on government devices — a political gesture that will do nothing to advance national security interests — rather than encouraging the Administration to conclude its national security review,” the company said in a statement. It added that the proposed security agreement with the Biden administration would address the security concerns of lawmakers and regulators.

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