AI Superpowers: China, Silicon Valley, and the New World Order; Singapore tries its own path in clash


THE NEW YORK TIMES , USA TODAY , AND  WALL STREET JOURNAL BESTSELLER

Dr. Kai-Fu Lee—one of the world’s most
respected experts on AI and China—reveals that China has suddenly caught up to the US at an astonishingly rapid and unexpected pace.  

In AI Superpowers, Kai-fu Lee argues powerfully that  because of these unprecedented developments in AI, dramatic changes will be happening much sooner than
many of us expected. Indeed, as the US-Sino AI competition begins to heat up, Lee urges the US and China to both accept and to embrace the great responsibilities that come with significant technological power. Most experts already say that AI will have a devastating impact on blue-collar jobs. But Lee predicts that Chinese and American AI will have a strong impact on white-collar jobs as well. Is universal basic income the solution? In Lee’s opinion, probably not.  But he provides  a clear description of which jobs will be affected and how soon, which
jobs can be enhanced with AI, and most importantly, how we can provide solutions to some of the most profound changes in human history that are coming soon. 

Kai-Fu Lee Discusses ‘AI Superpowers’ in San Francisco

KAI FU LEE: AI SUPERPOWERS

https://youtu.be/clbSkL3BiRg

Kai-Fu Lee | Full Address & Q&A | Oxford Union

https://youtu.be/8wOqP6fZuto

AI and You: Interview with Kai-Fu Lee

https://youtu.be/d6GrucLLzEw

Chinese tech exec Kai fu Lee on the future of AI

https://youtu.be/PJ24KLVJzkk

 

Singapore tries to find its own path in clash of AI superpowers …

 

SINGAPORE (Sept 4): The escalating trade war between the U.S. and China is chilling global collaboration that has long driven breakthroughs in technology and science. The tiny island nation of Singapore is trying to carve out an independent role in the clash and demonstrate the advantages of cooperation in fields like artificial intelligence.It’s a difficult balancing act. The country, with cordial ties to the two superpowers, is fighting against nationalistic forces on both sides. Artificial intelligence is becoming something of a test case for how independent countries will participate in emerging technologies.

China and the U.S. have dominated AI development, raising concerns that other  countries will lose out on its benefits and have no voice in devising regulations. Yet Singapore’s government is investing S$500 million (US$360 million) on AI and other digital technologies through 2020 and has attracted Chinese and American companies to the country with policies that support AI research. Singapore’s Communications and Information Minister S. Iswaran jumped into the debate this year, proposing a  framework for the ethical use of AI at the World Economic Forum in Davos.

“Singapore has an important role to play,” said Lawrence Loh, an associate professor at NUS Business School. “We will never be able to match the technological prowess of the U.S. and China, but there are certain areas where Singapore can take leadership, like using its position to get people to work together.”

Iswaran will elaborate on Singapore’s vision at Bloomberg’s “Sooner Than You Think” technology conference on Thursday. He will kick off an event that will feature speakers from Microsoft Corp, International Business Machines Corp, Temasek Holdings Pte, China AI pioneer SenseTime Group Ltd, as well as Southeast Asia’s leading tech startups Grab Holdings Inc and Gojek.

Singapore has long positioned itself as neutral ground. It’s already home to the Singapore International Arbitration Centre and the Singapore International Commercial Court, forums for international dispute resolution. Prime Minister Lee Hsien Loong said in his annual policy speech last month that Singapore will maintain its neutral position and not take sides between the U.S. and China.

The affluent city-state of 5.6 million is not leaving anything to chance, when it comes to future-proofing its economy.

It has set up a dedicated inter-agency task force to study all aspects of AI. And in recent weeks, it granted an AI patent to Alibaba Group Holding Ltd within just three months — a record pace that underlines the country’s determination to move full speed ahead.

“Singapore plays a pivotal role as it facilitates our entry into markets of our interest rapidly,” Benjamin Bai, vice president and chief IP counsel of Alibaba-affiliate Ant Financial, said in a statement released by the Intellectual Property Office of Singapore.

Still, there is skepticism about the country’s prospects. Singapore, like several other countries, is making a genuine push to develop its AI ecosystem, but its effort is tiny compared with the giants, said Kai-Fu Lee, founder of the venture firm Sinovation Ventures.

“Unless Singapore can unify ASEAN and become the undisputed AI leader and supplier in ASEAN countries, its efforts will not lead to a fraction of the U.S. or China,” Lee said in an email.

The government has been stepping up efforts to lure companies working in AI.

Alibaba has opened its first joint research institute outside China in Singapore in collaboration with Nanyang Technological University, while Salesforce.com Inc opened its first AI research centre outside of its research and development hub of Palo Alto, California — adding to a growing list of new research centers including the Singapore Management University’s Centre for AI and Data Governance.

GIC Pte, Singapore’s sovereign wealth fund, has invested in Canadian AI companies, including Montreal-based Element AI Inc, which has set up an office in the city-state after raising US$102 million in new funding in 2017.

“It’s very hard to see how things will pan out with the trade war,” NUS Business School’s Loh said. “Singapore’s focus should be technology, not geopolitics.”

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R&D crucial to developing new technology

Huawei’s story shows that research and development is crucial to developing new technology. As China takes the fast lane of technological development, we would like to see more Chinese high-tech enterprises follow the footsteps of Huawei to create more technology and tangible results, which will benefit not only China but also the whole world.

Tech Leaders in Asia Warn of Supply Chain Split including AI – Bloomberg

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China submits 5G technologies to International Telecommunication Union (ITU) as global standards


 


ITU: Committed to connecting the world

 

Huawei, ZTE are major patent holders

China has formally submitted its 5G technologies to the International Telecommunication Union (ITU), and analysts said that as Chinese companies have made considerable contributions to the next generation of wireless communication in patents and technology breakthroughs, it is highly likely the industry will adopt Chinese proposals as global standards.

The proposed solutions included radio interface technology based on technologies for new radio developed by 3GPP for 5G networks and the narrowband Internet of Thing, China’s IMT-2020 promotion group – the official organization under the auspices of the Ministry of Industry and Information Technology – said in a statement sent to the Global Times on Thursday.

“Our submission represents China’s understanding of 5G technologies, considering the integrity and advance of 5G technologies. Meanwhile, we support the development of a global unified 5G standard under 3GPP,” the statement said.

3GPP is a global standards organization that collaboratively develops standards and specifications for the telecoms industry.

The Chinese delegation consists of representatives from major telecoms companies and research institutions including Huawei, ZTE, China Mobile, China Unicom and the China Academy of Information and Communications Technology.

Final results for global standards for 5G technologies will be announced in June 2020, according to the statement.

China has been in a leading position in 5G development, and the ITU submission shows the global industry’s recognition of the country’s contributions to the 5G sector. Once Chinese solutions are adopted, the nation will have more say in standard-setting, and future technology development, Li Zhen, an industry expert at Beijing-based CCID Consulting, told the Global Times on Thursday.

“It’s very possible that [the Chinese standards] will be adopted,” he said, noting that the Chinese companies, particularly Huawei, already have a large portfolio of 5G core technology patents.

In terms of 5G standard essential patents, Huawei has the largest portfolio followed by Nokia, ZTE, LG and Samsung, according to the data as of this month, compiled by IPlytics. The number of declared 5G patent families held by Chinese companies accounted for nearly 40 percent of total declared patents.

The US remains highly vigilant in keeping Huawei out of the country’s 5G market, although US President Donald Trump had promised his government will ease restrictions on the Chinese company at a recent G20 meeting in Japan.

However, the US, as well as its major allies, could issue administrative orders to bar Huawei but they can’t really avoid it because the tech giant has already established many footprints in 5G core technologies, analysts said.

“Also, 5G development is not led by the US, which needs support from different countries that have their respective strengths and weaknesses in research and development,” Li said.

Huawei announced it would seek $1 billion in patent fees from major US carrier Verizon for more than 230 patents, which has become a common business practice, as the company is both a licensee and licenser of primary core patents, especially in 5G, Song Liuping, a senior executive of the company, told the Global Times in an interview in June.

On 5G, the company has contributed around 2,000 standard, essential patents, making the company top in the industry, Catherine Chen, board member of Huawei, told an ongoing panel in Brussels on Thursday in commenting the impact of Entity List US imposed on the firm.

Still, Chinese companies might face fierce competition from their foreign rivals in pushing forward their 5G technologies as global standards. South Korea, another leader in 5G commercialization, has also proposed the adoption of its 5G technologies, the Yonhap News Agency reported on Thursday, citing the country’s science ministry.

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Xi-Trump G20 meeting in line with global expectations, agreed to restart trade talks; Trump meets Kim at Demilitarized Zone


Robot monks in Longquan monastery, Zhen Robotics delivery bots, the AI-powered Baidu Park in Beijing, are examples of how far China has come technologically. Its tech rivalry with America is at the heart of the US-China trade war that has embroiled companies like Huawei.

The agreement reached between Chinese President Xi Jinping and his US counterpart, Donald Trump, at the 14th G20 summit in Osaka, Japan, is in line with the best expectations of international public opinion. Given the fact that the Sino-US trade talks have run hot and cold in the past, opinions are divided over whether the new round of trade talks will successfully do the job.

The agreement has broken the deadlock between China and the US. However, Beijing and Washington still face the arduous task of implementing the consensus reached between the two presidents while overcoming differences during the negotiations.

During the meeting, Xi and Trump clinched a deal to restart economic and trade consultations between their countries on the basis of equality and mutual respect. The US side also agreed that it will not add new tariffs on imports from China. These deals add new possibilities to end the year-long trade dispute between the world’s two largest economies that has been deadlocked since May.

It is not a big surprise for Xi and Trump to reach such an agreement. The outcome is logical and guided by the principles of trade and economy. It is also in accord with the general expectations of the international community. Such a result is undoubtedly in the interests of both the Chinese and US societies as it frees people in both countries from the fear of an escalating trade war.

None of the business communities or general public in China and the US want a trade war against each other. In the US, the initiator of the trade war, the call to end the dispute is gaining more and more support. To sum up from all perspectives, the result of the meeting complies with the real expectations and desires of both societies.

Nevertheless, China-US trade tensions have not been completely settled. There is no winner in this current dispute. Public opinion in both countries will likely be critical of an “incomplete victory” against the other. It is a situation similar to the ice-breaking movement made by China and the US to solve trade issues last December. The US media has a tradition of thriving on criticism. In that case, some US media are expected to argue that Washington has made too many concessions to China. The Democrats will also take it as an opportunity to mount pressure on the US government. These uncertainties come from the US and are its own internal concerns.

The situation after resuming economic and trade consultations between the two countries is even more critical. It is worth noting that the Trump administration has repeatedly contradicted itself in the past. The complexity of the power structure of the US government, a divergence of opinion within the administration’s team and the need to win the 2020 presidential election are foreseeable reasons for its reneging. Not only has China been on the alert for such changes, but also the international community has learned from the US’ historically ambivalent attitude. It will take a while to see what the Trump administration will do this time.

As for China, it is important to keep a clear mind and strong determination in this situation. As it turns out, China’s perseverance in the fight against the trade bullying policy of the past few months has played an important role in reaching a positive result with the US side at the Osaka summit. China is willing to work with the US to find solutions. However, it’s getting more and more clear that China is not afraid of a trade war and will not be beaten by one. A strong image is essential for China to reach an equal and mutually respectful agreement in discussions with the US.

China is committed to a peaceful development policy. China has not been involved in any war, nor severe conflicts with other countries in the past 30 years. As a result, some people doubted the possibility of China standing firm and staying strong when confronted with strategic challenges. Now, they have a clear answer from China’s performance during this dispute. China is under the strong leadership of the CPC central committee and the Chinese government has the courage to take responsibility and make decisive decisions. Chinese society has actively responded to the government’s call, and the whole nation has shared the ups and downs of a difficult situation. Cohesion has been the collective belief of the Chinese public. External threats will not force their way into Chinese society.

China has no intention of benefiting from defeating other countries. China sincerely hopes that all parties will enjoy a win-win situation through interaction and cooperation. Diplomatic interactions between China and the US over the past few decades have served as a multiplier effect to boost their national interests. A trade war on a large scale is out of the expectations of both the Chinese government and Chinese public. There is no doubt that China is willing to push forward China-US economic and trade cooperation to keep pace with the times and bring the interests of both sides in line with each other. China has no strategic resistance to such cooperation.

However, the duress of unilateralism does nothing to help solve the problems between China and the US but rather it causes severe unrest and damage to both sides and the rest of the world. If China and the US can meet each other halfway and reach consensus on key issues, then the two sides will find a solution to the trade dispute that is acceptable to both countries and beneficial to the world.

After a lot of fine tuning, Chinese society has grown mature enough to deal with any profound changes there might be in the China-US relationship. Chinese people are well-prepared for any possible uncertainty in future trade talks. The path of China’s development will not always be smooth and that is accepted by the Chinese public. Chinese people will not be surprised by any potential turmoil in China-US economic and trade relations, and they know China will handle it accordingly.

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Trump meets Kim Jong Un at Demilitarized Zone 特朗普抵达板门店与金正恩会面

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Calm attitude needed for future China-US trade negotiations

The meeting between Chinese President Xi Jinping and US President Donald Trump on sidelines at the G20 summit in Osaka broke the deadlock between the two countries sinceearly May. According to a briefing by the Chinese side, the two sides have agreed to restart trade consultations with the US declaring not to impose new tariffs on Chinese products. Trump said his meeting with Xi was “excellent” and “we’re right back on track.”
 At G20, Xi leads chorus for multilateralism

 US may lift ban on Huawei; industry representatives happy

World must contain capricious US actions

The G20 summit is being held in Osaka, Japan with the most pressing global tasks and anxieties on the table for the group of te world’s largest economies. We are in an era where advancement and problems coexist. Whether the problems can be seriously tackled depends, to a large extent, on the attitudes of the leaders in Osaka.


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US hypocritical in accusing China of tech theft


Photo: IC

https://youtu.be/tGD072hQGP8

 

 

The US has no lack of a “criminal record” in terms of technology theft.

 

The US has repeatedly ignored China’s innovative breakthroughs through self-reliance and hard work but accuses China of “stealing” US technology and intellectual property rights. These arguments do not hold water.

These absurd accusations imply that the US must be the absolute leader in technological innovation – only the US is qualified to make major breakthroughs while others should merely follow its lead and import its technology, otherwise they are “stealing.” Such logic is ridiculous.

A country’s technological innovation capability is closely related to its scientific research resources, such as talents, capital, and scientific experimental devices. Leading scientific research resources have determined the US leading position in various science and technology fields. Nonetheless, economies including the EU, China, Japan, Russia and India have also mastered considerable scientific research resources and developed technological innovation capabilities with their own characteristics and advantages.

It is due to such relatively scattered distribution of global research resources that the US can never be an “all-round champion” of technological innovation. It is natural that other countries will catch up with the US in certain fields.

Historically, the US made a great fortune during WWII, and out-competed the Soviet Union in terms of comprehensive national strength during the Cold War. Even so, the US failed to gain absolute dominance over the Soviet Union in technological innovation.

As a major technological innovator keeping pace with the US, the Soviet Union set multiple world records in its golden age. The world’s first nuclear power plant, artificial earth satellite, manned spacecraft, space station and intercontinental missiles were all built by the Soviet Union. As far as weapons and equipment are concerned, both the Soviet Union and the US had something in which they excelled. Even now, Russia, the successor state to the Soviet Union, surpasses the US in some respects.

The US made its first nuclear power plant, artificial satellite, manned spacecraft, and intercontinental missiles after the Soviet Union’s success. Based on its current logic, should these US cutting-edge technologies be regarded as something stolen from the Soviet Union?

There are more examples. China led the US in the processing power of supercomputers for many years. In June 2018, the US retook the world’s lead thanks to its machine “Summit” which could process 200,000 trillion calculations per second. By following US logic, should we say the US surpassed China by stealing China’s supercomputing technology?

Some have already noted that the US is actually the guilty party that files the suit first. The country has no lack of a “criminal record” in terms of technology theft. In the first decades after its founding, the US tried hard to “steal” advanced industrial technology from the UK to develop its own industries.

During WWII, prior to Germany’s surrender, the US established the Alsos Mission. The team was sent to Germany not to fight, but to capture top German scientists and their technologies ahead of the Soviet Union. It is said that Wernher von Braun, one of the founders of the US space program, was a leading figure in Nazi Germany’s rocket development program.

When the Soviet Union collapsed, the US took the opportunity to obtain advanced military technology that the Soviet Union had accumulated for years and to lure away many top technical talents.

After that, plenty of US weapons benefited from the Soviet Union’s technology to varying degrees, which saved the US time and money. The US technology theft from the Soviet Union has produced generous returns.

However, the US is not ashamed of such records. Many Hollywood blockbusters have molded American spies conducting such theft into the embodiment of justice, and molded theft into a just act. Perhaps it is precisely because of this that the US is now judging others by itself.

In recent years, China has continued to increase investment in science and technology. In 2018, the country’s research and development funds amounted to nearly 2 trillion yuan ($290 billion), second only to the US. The efforts will naturally pay off.

Nevertheless, the US deliberately turned a blind eye to China’s efforts to promote independent innovation and contain China’s development. The past actions and current absurd logic of the US are being seen through.

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Huawei files to trademark mobile OS around the world after US ban


Huawei files to trademark mobile OS around the world after US ban

LIMA/SHANGHAI: China’s Huawei has applied to trademark its “Hongmeng” operating system (OS) in at least nine countries and Europe, data from a U.N. body shows, in a sign it may be deploying a back-up plan in key markets as U.S. sanctions threaten its business model.

The move comes after the Trump administration put Huawei on a blacklist last month that barred it from doing business with U.S. tech companies such as Alphabet Inc, whose Android OS is used in Huawei’s phones.

Since then, Huawei – the world’s biggest maker of telecoms network gear – has filed for a Hongmeng trademark in countries such as Cambodia, Canada, South Korea and New Zealand, data from the U.N. World Intellectual Property Organization (WIPO) shows.

It also filed an application in Peru on May 27, according to the country’s anti-trust agency Indecopi.

Huawei has a back-up OS in case it is cut off from U.S.-made software, Richard Yu, CEO of the firm’s consumer division, told German newspaper Die Welt in an interview earlier this year.

The firm, also the world’s second-largest maker of smartphones, has not yet revealed details about its OS. Advertisement

Its applications to trademark the OS show Huawei wants to use “Hongmeng” for gadgets ranging from smartphones, portable computers to robots and car televisions.

At home, Huawei applied for a Hongmeng trademark in August last year and received a nod last month, according to a filing on China’s intellectual property administration’s website.

Huawei declined to comment.

CONSUMER CONCERNS

According to WIPO data, the earliest Huawei applications to trademark the Hongmeng OS outside China were made on May 14 to the European Union Intellectual Property Office and South Korea, or right after the United States flagged it would stick Huawei on an export blacklist.

Huawei has come under mounting scrutiny for over a year, led by U.S. allegations that “back doors” in its routers, switches and other gear could allow China to spy on U.S. communications.

The company has denied its products pose a security threat.

However, consumers have been spooked by how matters have escalated, with many looking to offload their devices on worries they would be cut off from Android updates in the wake of the U.S. blacklist.

Huawei’s hopes to become the world’s top selling smartphone maker in the fourth quarter this year have now been delayed, a senior Huawei executive said this week.

Peru’s Indecopi has said it needs more information from Huawei before it can register a trademark for Hongmeng in the country, where there are some 5.5 million Huawei phone users.

The agency did not give details on the documents it had sought, but said Huawei had up to nine months to respond.

Huawei representatives in Peru declined to provide immediate comment, while the Chinese embassy in Lima did not respond to requests for comment.

(Reporting by Marco Aquino in Lima and Brenda Goh in Shanghai, Additional Reporting by Sijia Jiang in Hong Kong; Shanghai Newsroom and Mitra Taj in Lima, Editing by Himani Sarkar)

Source: Reuters

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Huawei’s HongMeng OS 60% faster than Android !


Huawei’s Hongmeng will be 60 times Faster than Android

Finally!!!!! Huawei make come back

Huawei is fighting back with the US by introducing their new Operating System Hongmeng which is 60 times faster than Android. Which will release in 2020.

According to Huawei, they had been working on their own OS for the last seven years and further said that the production of the new operating system is far more than ready.

Google has currently lifted the ban on Huawei for 90 days, meaning the current Huawei customers will continue to get updates for the next 90 days, including their Android app and all.

As CTO of Huawei confirms that their OS will be able to run the android apps, this will be the biggest setback for Android. And to achieve that cause, Huawei is in talks with Apptoide which is a standalone alternative for Google play.There are some rumors which are suggesting that not just Android but this new OS will be able to run iOS applications too.

So will Hongmen be really better than Android? We’re still unsure as we didn’t get any UI/UX of their new OS so right now it is not the perfect time to comment on this situation. But after listening to a number of conferences done by Huawei, we’re sure that this new Operating System Hongmeng is indeed that can shake the foundations of Android, and Android may suffer a lot.

But, this is clear that Android will put up a great trouble to come ahead of this Hongmeng. This is surely going to be one hell of a rift between Huawei and Android to get the market lead. If Huawei succeeds in making their new OS better and more reliable than android than the world will soon see a revolution in the field of technology and innovation.

Huawei’s Android replacement is not, apparently, ready to be launched.

After reporting that Huawei was preparing their own new operating system for a possible launch, Huawei has told TechRadar that its home-grown Operating System will not be rolled out next month. Instead, the company plans for the OS to be ready in China later this year, with an international launch in 2020 with a few modifications in it.

Like most manufacturers, Huawei relies on Google’s Android to power its Huawei phones. Earlier this month, Google announced that it would no longer grant an Android license to the Chinese company by following a White House executive order that effectively blocked the company in the US.

The company has been working on its own Operating System since 2012, a report from CNET sister site TechRepublic revealed in 2018.

“Huawei knew this was coming and they were preparing. The OS was ready in January 2018 and this was our ‘Plan B’,” Alaa Elshimy, managing director and vice president of Huawei, told TechRadar.

“We did not want to bring the OS to the market as we had a strong relationship with Google and others and did not want to ruin the relationship.”

According to the report, existing Android applications will work with the new OS, which could mean it is based on the open-source version of Android. Huawei has its own app store on Android, called Huawei AppGallery, which could host the new apps of future world.

Huawei phones in China do not use Google service so there’s a high chance of adoption of its own Hongmeng OS. But how does Huawei plan to deal with not being able to use popular applications like YouTube, Maps, Gmail, etc. on its Hongmeng OS outside China? Will the company develop competing apps for its Operating System or has Huawei done that already?

So many questions are asked now-a-days. But I guess we may never find out until Huawei unveils the supposed “Hongmeng” operating system expected to substitute Android on its own powered devices.

Huawei’s decision to sue the US government comes as they face increasing rift from the US and its allies over the security of its telecoms network equipment. The Shenzhen-based firm has been banned in the US from supplying to federal agencies under the country’s National Defence Authorization Act.

“The US government has long branded Huawei as a threat. It has hacked our servers and stolen emails and source code,” said Guo. “Despite this, the US government has never provided any particular evidence supporting the accusations that Huawei poses a cybersecurity threat. Still, the United States government is sparing no effort to smear the company and mislead the public about Huawei .” May be the reason behind this could be an expected defeat from Huawei in the race of becoming the king of IT world.

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Huawei’s HongMeng OS 60% faster than Android: reports

China’s Huawei is reportedly intensively testing its proprietary operating system (OS) HongMeng with internet giants and  domestic smartphone vendors, and the new system will be launched in the  next few months.

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China issues 5G licences in timely boost for Huawei


The battle over 5G network suppliers is part of a broader push by the Trump
administration to check China’s rise as a global technology powerhouse.PHOTO: REUTERS 

5G商用 中国准备好了! 20190605 | CCTV中文国际

News Wrap: Huawei to develop 5G networks in Russia

SHANGHAI/HONG KONG (REUTERS, BLOOMBERG) – China granted 5G licences to the country’s three major telecom operators and China Broadcasting Network Corp on Thursday (June 6), giving the go-ahead for full commercial deployment of the next-generation cellular network technology.

The approvals will trigger investment in the telecommunications sector which will benefit top vendors such as Huawei Technologies, just as the Chinese network equipment provider struggles to overcome a US blacklisting that has hurt its global business.

China approved four operating licences for 5G networks, setting the stage for the super-fast telecommunications system amid simmering tensions with the US over technology and trade.

The country’s three state-owned wireless carriers and China Broadcasting Network Corp were granted licences for full commercial deployment, according to state broadcaster CCTV.

The operators, China Mobile Ltd, China Telecom Corp and China Unicom Hong Kong Ltd, have been testing the technology in several cities including Beijing and Shenzhen.

Full deployment of 5G networks in a country with almost 1.6 billion wireless phone subscriptions is expected to boost local companies designing gear for applications in autonomous driving, robotics, remote surveillance and virtual reality. The faster-than-expected approvals also come as Shenzhen-based Huawei Technologies Co, the world’s largest manufacturer of networking equipment, has vowed to maintain its lead in the face of a US campaign pressuring allies not to use the company’s products.

Shares of some 5G-related companies fell in Hong Kong and Shanghai trading after the licence announcement, trimming gains made earlier in the week on expectations the companies would benefit from the push for the new networks.

China Tower Corp, the three major carriers’ infrastructure provider, fell 3% as of 10.50am in Hong Kong, paring its advance in the past four days to 9.1%. ZTE Corp, which makes handsets and telecom gear, dropped 4.3%, trimming its four-day rally to 7.1%.

Betting on the fate of the nation’s next generation of telecom networks has been one of the year’s hottest trades in China and Hong Kong. An index of telecom-related shares is up 20% this year, led by a 54% rally in ZTE’s Shenzhen-traded stock.

Beijing-based Xiaomi Corp in March said it would introduce China’s first 5G phone in May or June. Huawei and ZTE, have also said they intend to offer handsets compatible with the technology this year.

Introducing 5G will directly add 6.3 trillion yuan (US$912bil) to economic output and 8 million jobs by 2030, the China Academy of Information and Communications Technology estimates. — Bloomberg

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If they must pick sides, tech firms will choose China

US President Donald Trump’s latest confrontation with
China’s telecoms giant Huawei may plunge the world into a long-term
technology “cold war,” forcing global companies to pick sides between
the US and China.

US may escalate trade war in six ways

All parties suffer during the trade war, a game of
“killing 1,000 enemies while losing 800 of our own.” Many institutions
have forecast the impact of increased tariffs on China’s economic growth
to be around 1 percentage point. While there is no need to panic, we
should also prepare for worst-case scenarios.

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