FT News Briefing US vows action on Chinese tech, William Spriggs on US labour market
Aug 3, 2020
The U.S. government is ramping up efforts against Chinese tech firms, with TikTok in the spotlight over security concerns. William Spriggs discusses how the pandemic is reshaping the labor market, highlighting shifting corporate priorities that often overlook workers. The podcast also delves into the transitions from a shareholder-focused economy to a more stakeholder-driven approach, emphasizing the impacts of digital transformation on future competitiveness. Tensions continue to rise, revealing deeper issues in U.S.-China tech relations.
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US Action Against Chinese Tech
- The Trump administration plans to act against Chinese software companies deemed security risks.
- Secretary of State Mike Pompeo stated this on Fox News, focusing on data sharing with the Chinese Communist Party.
US-China Tech Tensions
- US government concerns about Chinese apps as national security risks, focusing on data sent back to China, have existed for a while.
- CFIUS investigates acquisitions like ByteDance's purchase of Musical.ly, TikTok's precursor, to ensure compliance with national security laws.
TikTok's Uncertain Future
- ByteDance's acquisition of Musical.ly is under scrutiny, with potential ramifications for TikTok's US operations if CFIUS deems it a security violation.
- Microsoft attempted to buy TikTok's US business, but Trump expressed reservations, creating uncertainty around the deal's future.