Tag: USChina

Amid US-China Tech War, Can Neo’s DeFi Stack Rival Ethereum’s?

Chinese tech companies were once seen as copycats of their Western peers: Alibaba was a knockoff of eBay and Baidu imitated Google. More recently, Chinese firms like TikTok and Huawei have established such dominant international positions that U.S. authorities have tried to hold them back. 

Now, the technological arms race is playing out in the cryptocurrency industry, where one Chinese company is taking on Ethereum, the world’s second-largest blockchain, which U.S.-based developers have used to build semi-automated trading and lending networks under the rubric of decentralized finance, or DeFi.   

Neo took aim at DeFi in late September with its launch of a new platform called Flamingo. Da Hongfei, a Neo co-founder, told CoinDesk in an interview that the protocol will eventually provide users with features found on popular Ethereum-based projects like Uniswap, Curve Finance, yearn.finance, and Synthetix, he said. 

Flamingo is not simply a product of “copy and paste,” the

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In U.S.-China Tech Feud, Taiwan Feels Heat From Both Sides

TAINAN, Taiwan — The United States and China are wrestling to lead the world in artificial intelligence, 5G wireless and other cutting-edge technologies. But the real wizardry that makes those advancements possible is being performed on a yam-shaped island that sits between them, geographically and politically.

On Taiwan’s southern rim, inside an arena-size facility stretched out among lush greenery and coconut palms, colossal machines are manipulating matter at unimaginably tiny scale. A powerful laser vaporizes droplets of molten tin, causing them to emit ultraviolet light. Mirrors focus the light into a beam, which draws features into a silicon wafer with the precision, as one researcher put it, “equivalent to shooting an arrow from Earth to hit an apple placed on the moon.”

The high-performance computer chips that emerge from this process go into the brains of the latest tech products from both sides of the Pacific. Or at least they

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Japanese chipmaker Kioxia delays IPO amid US-China tensions

Kioxia had planned to list on the Tokyo Stock Exchange on 6 October. Photo: Getty
Kioxia had planned to list on the Tokyo Stock Exchange on 6 October. Photo: Getty

The world’s second-largest maker of NAND flash memory chips, Kioxia is considering delaying Japan’s biggest initial public offering (IPO) as tensions between the United States and China ramp up.

Earlier this month, the company which spun out of Toshiba Corp (TOSBF) in 2018, set a tentative price range for an IPO in Tokyo to raise as much as $2.9bn (£2.3bn).

Toshiba has retained roughly 40% of Xioxia, with the rest held by a group of Japanese, US and South Korean investors.

The Japanese chipmaker was due to reveal its final pricing on Monday, instead Xioxia’s board is reportedly meeting on Monday to discuss its options, according to the Financial Times.

Kioxia had planned to list on the Tokyo Stock Exchange (JPXGY) on 6 October, at a valuation of more than $14bn. The company warned tighter

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TikTok Deal with Oracle and Walmart Trips Over U.S.-China Feud

WASHINGTON — A deal intended to address the Trump administration’s concerns about TikTok’s ties to China was complicated on Monday by a disagreement over whether a U.S. company would control the social media app and the president’s threat to block any agreement that leaves the service in the hands of a Chinese company.

On Saturday, Mr. Trump said he had given his “blessing” to a transaction that he said would result in non-Chinese investors, including Oracle and Walmart, owning TikTok.

But ByteDance, the Chinese owner of TikTok, threw cold water on that structure on Sunday, disputing both Oracle’s and Mr. Trump’s characterization of the deal. ByteDance said it would hold a majority share of the new company until it went public within the next year. Oracle said on Monday that as soon as the new company, TikTok Global, was created, ByteDance would lose its ownership stake in the service.

Asked

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It’s getting harder for tech companies to bridge the US-China divide

Corporations have never been able to cleanly separate their activities from geopolitics. Now, technology firms are finding it increasingly difficult to work across the US-China divide. Try as they might to cross-pollinate through research and investments, the climate between China and the United States continues to deteriorate into political one-upmanship, leaving users to pay the steepest costs.

The Trump administration’s recent order to remove TikTok and WeChat from American app stores over alleged cybersecurity concerns was a direct challenge to China’s own efforts to build the next generation of global technology companies. At the heart of the conflict is deeply personal politics. Both apps survive in China only by the goodwill of President Xi Jinping, and both were at risk of being removed from the United States by order of President Donald Trump.  

WeChat and TikTok’s recent trials show how the chief executives in both China and the US have

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TikTok Latest News on U.S.-China Status: ByteDance Says It Won’t Sell Algo: SCMP

TikTok’s parent ByteDance has decided it won’t sell or transfer the algorithm behind the video-sharing app in any sale or divestment, the South China Morning Post reported, citing a source briefed on the Chinese company’s boardroom discussions.

The company will not hand out the source code behind the social media platform but the company’s U.S. based technology team would be free to develop a new algorithm, the newspaper said, adding that this would be a condition for a sale of the company’s U.S. assets.

ByteDance and TikTok didn’t immediately respond to the newspaper’s request for comment.

Separately, Fox reporter Charles Gasparino tweeted on Sunday that any TikTok deal would probably require negotiations between the U.S. government and its Chinese counterpart to succeed.

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Drone maker hurt by US-China rift, opening door to US rivals

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Asia stocks set to trade lower as U.S.-China tech tensions rise

SINGAPORE — Asia markets were set to trade lower at the Monday open as tech tensions between Washington and Beijing escalate.

Futures pointed to a lower open for stocks in Japan, with the Nikkei futures contract in Osaka at 23,200. That compared against the Nikkei 225’s last close at 23,205.43.

Shares in Australia were also poised to dip, with the SPI futures contract at 5,875.0, as compared to the S&P/ASX 200’s last close at 5,925.50.

Investors will watch shares of Semiconductor Manufacturing International Corporation (SMIC), China’s largest manufacturer of semiconductors, after a Defense Department spokesperson said the Trump administration is considering imposing export restrictions on the firm.

SMIC is seen as an important player in China’s ambition to grow its domestic semiconductor industry. The potential move by Washington, first reported by Reuters, would mark a major escalation in the tech battle between the U.S. and China.

On the economic data

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A brief history of US-China espionage entanglements

Since the establishment of the People’s Republic of China in 1949, intelligence services in both Beijing and Washington have vied to uncover secrets in one another’s countries, and to safeguard their own secrets, in pursuit of military, economic, and technological advantage. Many bona fide spies on both sides have been caught; many innocents have been unfairly implicated. What follows is a brief history of key events in this conflict.

Qian Xuesen

WIKIMEDIA

1950

Qian Xuesen, cofounder of the Jet Propulsion Laboratory and professor at Caltech, is stripped of his security clearance for alleged connections to the Communist Party. Qian, who had questioned Nazi rocket scientists on behalf of the US government after World War II and worked on the Manhattan Project, resigns from Caltech and asks to leave the US for China, at which point he is held under house arrest for five years. In 1955 the US deports him;

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