White House Cracks Down on Counterfeit Goods Sold Online

The Trump administration is cracking down on counterfeit products sold over the Internet, warning warehouse operators and e-commerce platforms such as Amazon that they will pay fines if they don’t help identify such products. The Department of Homeland Security released a report on the problem, and the White House in concert with U.S. Customs and Border Protection is leading the initiative. The recent trade agreement with China requires that country to curb counterfeiters or risk potential new tariffs. Continue reading White House Cracks Down on Counterfeit Goods Sold Online

CES 2020: China’s Place in the Global Economic Landscape

Deloitte chief of staff, technology, media & telecom industry Glen Dong introduced a discussion on the global economic landscape with a focus on China, which he dubbed “arguably the largest economy in the world.” He introduced Dr. Ira Kalish, Deloitte’s chief global economist, who put that into perspective with a 2020 economic outlook. “We’ve already seen a substantial deceleration of growth in the global economy,” he noted. “The Chinese economy has had some of its slowest growth in a decade.” Continue reading CES 2020: China’s Place in the Global Economic Landscape

Alibaba’s Singles Day Reaps $38.3B, Dwarfing Black Friday

On November 11, Chinese e-commerce giant Alibaba brought in nearly $38.3 billion worth of goods in the 24-hour period known in that country as Singles Day. That surpasses last year’s Singles Day that bought in $30.8 billion. Both figures dwarf the numbers for Black Friday, the massive commercial day-after-Thanksgiving sale in the U.S. Alibaba invented Singles Day ten years ago and, since then, has become a tech giant along the line of Amazon or Alphabet. China also has become wealthier and more digitally connected. Continue reading Alibaba’s Singles Day Reaps $38.3B, Dwarfing Black Friday

Tech Giants Ramp Up Lobbying as Legal Probes Continue

As lawmakers investigate Amazon, Apple, Facebook and Google for antitrust violations, these tech giants are boosting their spending on lobbying. Amazon spent $12.4 million, a 16 percent increase. In the first nine months of 2019, Facebook spent $12.3 million, almost 25 percent more than the same period last year. Apple and Microsoft increased their outlay, by 8 percent and 9 percent respectively. Although parent company Alphabet reduced spending on lobbying by 41 percent, Google spent $9.8 million through September 30. Continue reading Tech Giants Ramp Up Lobbying as Legal Probes Continue

OECD Aims to Regulate Where Online Companies Pay Taxes

The Organization for Economic Cooperation and Development (OECD) has devised a proposal to prevent digital giants such as Amazon, Apple and Facebook from avoiding paying taxes. The proposal, which would allow countries to tax such big multinational firms even if they did not operate there, would enable new taxes on all kinds of multinational companies — not just tech firms — that operate online. As of now, many of these digital companies avoid heavier taxes by moving profits to countries with low tax rates. Continue reading OECD Aims to Regulate Where Online Companies Pay Taxes

Google Set to Announce 5G Phone Next Week, Say Sources

According to sources, Google may unveil the test version of a 5G smartphone as early as October 15, when it is also expected to also reveal two new 4G Pixel smartphones with OLED screens and possibly a smart watch and notebook. If Google does indeed introduce the 5G phone, it would get a significant jump on Apple, whose plans are to unveil a 5G phone in 2020. Google is making a bigger play in branded hardware to have a greater hold over consumers using its search engine and other software products. Continue reading Google Set to Announce 5G Phone Next Week, Say Sources

U.S., China Advance Negotiations on Trade, Cybersecurity

U.S. and China just held a meeting to resolve several issues that have risen to the forefront in their yearlong trade dispute. The Trump administration is pushing China to lift restrictions that make it difficult for U.S. companies to operate there. U.S. businesses also chafe against China’s cybersecurity laws that require them to store data in China and rely on Chinese network equipment. Although these topics have not been on the negotiating table, China has recently made it clear it is willing to discuss them. Continue reading U.S., China Advance Negotiations on Trade, Cybersecurity

U.S. Charges Members of China’s Elite APT10 With Hacking

The Trump administration has charged two Chinese citizens accused of involvement in a state-sponsored effort to steal information from government agencies, various businesses and managed service providers. The hackers are said to be members of China’s elite APT10 group, and prosecutors claim there are direct links between the accused and China’s Ministry of State Security. The U.S. says China’s cyberattacks have become significant national and economic security threats. The latest charges indicate that Chinese authorities directed the hacking campaign. Continue reading U.S. Charges Members of China’s Elite APT10 With Hacking

Federal Government Takes Additional Steps to Block Huawei

The U.S. government is reportedly pushing for foreign allies to stop using hardware from China-based Huawei Technologies Co. According to people familiar with the initiative, the government is aiming to convince wireless and Internet service providers to avoid telecom equipment that comes from Huawei in an effort to increase security. Washington officials are particularly concerned about countries that host military bases. The U.S. and Australia already have bans in place to curb the risk of cyberattacks. Huawei is the world’s largest telecommunications provider. Continue reading Federal Government Takes Additional Steps to Block Huawei

Alibaba Breaks Singles Day Record, But Economy Is Slowing

A recently invented Chinese holiday, Singles Day, posted $1 billion in sales in 85 seconds on November 11, with a gala kickoff event headlined by singer Mariah Carey, model Miranda Kerr and basketball star Allen Iverson. For the holiday, the equivalent to our Black Friday, sales rose 27 percent, nonetheless the slowest annual increase in its 10 year history (last year sales rose 39 percent). Alibaba shares doubled in 2017 but this year are down 16 percent, the result of a slowing economy and U.S. trade tariffs. Continue reading Alibaba Breaks Singles Day Record, But Economy Is Slowing

In Taiwan, CE Firms Devise Contingency Plans for Trade War

Taiwan plays an important role in the global technology supply chain, assembling devices from smartphones to computers. Now, as tensions rise between China and the U.S., some of the largest Taiwan-based companies are figuring out ways to avoid the worst depredations of the trade war. Foxconn Technology Group chairman Terry Gou took the first step, by opening a $10 billion display plant in the U.S., and now the chief executives of Pegatron and Inventec are revealing details of their own plans. Continue reading In Taiwan, CE Firms Devise Contingency Plans for Trade War

Apple Is First U.S. Firm to Surpass $1 Trillion in Market Value

Although Q3 is typically Apple’s weakest quarter, the company revealed stellar revenue, proof of its success in finding ways to grow in a diminished global smartphone market. Chief executive Tim Cook said the company is reaching into emerging markets and expanding its services business, to achieve “strong double-digit growth in revenue.” According to Apple finance chief Luca Maestri, demand for the iPhone X, 8 and 8 Plus have been steady. On Tuesday, Apple’s market value hit $950 billion. By Thursday, Apple had become the first U.S. company to exceed $1 trillion in market value. Continue reading Apple Is First U.S. Firm to Surpass $1 Trillion in Market Value

Despite Obstacles, Google May Make its Way Back to China

Getting back into China after an eight year absence isn’t going to be easy for Google, even though the company developed a mobile search app capable of employing censorship. President Trump is threatening to dramatically expand existing tariffs against China, which could retaliate by blocking the operation of U.S. businesses there. Recently, Qualcomm ended its attempt to buy NXP Semiconductors after China withheld approval; China also sidelined Facebook’s plan to build an innovation hub there. Continue reading Despite Obstacles, Google May Make its Way Back to China

Congress Advances a Bill That Could Curb U.S.-Chinese Deals

Congress is advancing a bill that would put more power in the hands of the federal government to block deals between U.S. and Chinese companies deemed to risk national security. Tensions between the two countries are high as each threatens and seeks to negotiate with the other. President Trump and Chinese vice premier Liu He met to discuss potential concessions as the U.S. ramps up threats of tariffs, while China’s antitrust division just lifted a many-month delay on Bain Capital’s $18 billion deal with Toshiba’s memory chip unit. Continue reading Congress Advances a Bill That Could Curb U.S.-Chinese Deals