Come learn with me (Video)

https://ab.co/3fyQ1iR



points form the article:



- China and the US are locked in a superpower tech war to 'win the 21st century



- Chang's company is building a prototype agricultural robot that kills weeds by spraying hot oil on them, potentially solving the problem of herbicide-resistant weeds plaguing the world's farms.



- "I think it's really true what they say — a month in Shenzhen is similar to four months anywhere else in the world."



- While the US has long had the edge in tech, China is catching up fast, investing heavily in AI, robotics, 5G and 6G, microchips and surveillance technology.



- The US has sought to contain China's rise as a tech power, banning Huawei's 5G network in the US and placing a virtual prohibition on US companies supplying software and components to Chinese tech companies.



- Last year the Trump administration also moved to ban TikTok in the US, fearing the app could be stealing users' personal data on behalf of the Communist regime in Beijing.



- They say the world is being split into two competing and mutually exclusive tech ecosystems, each with its own internet, hardware, communications and financial platforms.



- "China is building its own internet focused on different values, and is now exporting their vision of the internet to other countries," Zuckerberg said.



- Chinese social media platform WeChat, the Alibaba online marketplace and Baidu search engine have created a cyberspace distinct from the one dominated by US tech titans such as Facebook, Amazon and Google.



- Platforms like Facebook and Google were banned as the Communist government created a "protected market" for Chinese tech firms that would willingly submit to Beijing's political demands.



- A tech war has casualties on both sides and it is going to cost the world dearly. A Deutsche Bank report estimates the cost of the tech war at more than $3.5 trillion over the next five years.



- One key way the US exerts control over the financial system is through the Swift International payment network. Every day $5 trillion is transferred around the world using this system.



- If the Biden administration chooses, it could sanction or cut off Chinese banks and corporations from international financial markets, causing immense damage to the Chinese economy.



- The Swift system enabled America to arrest and charge Huawei's chief financial officer Meng Wanzhou with violating US sanctions against Iran.



- China is already responding to this new financial threat by making its national currency, the yuan, digital. In 2020, China became the first major economy to test a digital currency in four of its cities.



- "[Beijing] would be capable of avoiding US oversight and US sanctions. With the digital infrastructure developed by China, the US could lose the ability to monitor or sanction."



- China registered nearly 60,000 patents — 1,000 more than the US — and most of them came from Shenzhen.



- But China is spending big on hi-tech research, announcing a five-year plan worth $1.8 trillion dollars to dominate AI, robotics, 6G and all other technologies by 2035.



- https://www.abc.net.au/news/2021-07-08/trump-facebook-twitter-china-us-superpower-tech-war/100273812

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