Technology is the new battleground of geopolitical order as China and US face-off over TikTok: Expert

There’s a tech turf war smoldering, the result of which could create a new world order and redraw geopolitical alliances. That’s according to Abishur Prakash, a geopolitical futurist at Center for Innovating the Future and author of our books, including Next Geopolitics: Volume 1 and 2.

Loading...

Load Error

“This is the new status quo, geopolitics. Tech is now driving things,” he said in an interview with Yahoo Finance’s On The Move.

The power struggle is evident, said Prakash, as the U.S. and China face-off in a proxy war over social media app TikTok, currently owned by Chinese tech giant ByteDance, which is working with U.S. regulators to resolve outstanding security concerns over its planned sale of the popular app.

“If we look at the deal between TikTok and Oracle (ORCL) and Walmart (WMT), a key focus of that deal is data, where will data be stored,” he said, with privacy

Read More
Read More

China technology companies face geopolitical, coronavirus changes

A billboard advertising Chinese video app TikTok at Wangfujing street on August 20, 2020, in Beijing.

VCG | Visual China Group | Getty Images

GUANGZHOU, China — China’s technology giants — like their U.S. counterparts — have seen business thrive during the coronavirus pandemic. But the tech industry is at a crossroads, facing an uncertain economic and geopolitical environment. 

China’s gradual though uneven economic recovery, Beijing’s focus on domestic consumption, and the digital trends that have been accelerated by Covid-19 are all set to benefit the technology sector. But risks remain. 

“On the user behavior side (in China), the pandemic gave an impetus to the penetration of several major digitization businesses, helping some of them grow significantly to reach the necessary scale and achieve economic efficiency in a short time,” Charlie Chai, analyst at 86 Research, told CNBC.

“On the other hand, a countervailing force is a cut in investment

Read More
Read More

Geopolitical concerns over China cloud future of U.S. electrification

From mineral extraction to battery supply to EV manufacturing, China has established itself as the preeminent hub for EV-related business, the group says. By last May, 107 of the 142 lithium ion battery megafactories that exist or are under construction were located in China, according to the report, titled “The Commanding Heights of Global Transportation.”

Further, the Chinese have focused on securing supplies of key materials used to produce battery cells, such as cobalt, lithium, nickel and graphite. China has 73 percent of the global share of production of lithium ion battery cells, per the report. The U.S., by comparison, controls 10 percent.

This isn’t the first time alarm bells have been raised about the competitiveness of the U.S. industry. In February 2019, Benchmark Mineral Intelligence Managing Director Simon Moores testified before a U.S. Senate subcommittee, saying, “We are in the midst of a global battery arms race, in which

Read More
Read More