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Japanese government urged to establish industrial espionage unit

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The Japanese government is being urged to establish an industrial espionage unit to try and stop spies stealing secrets relating to advanced technologies being developed by successful companies in the country. 

According to a report on the Nikkei Asian Review website, the Liberal Democratic Party, led by current Japanese President Shinzō Abe, is formulating a list of recommendations aimed at preventing industrial espionage against Japanese companies.

As quoted by Nikkei, Akira Amari, one of the LDP’s leading members, says: “The need for intelligence capabilities is broadening beyond sensitive military-related information to a wide range of private-sector data.” [Read more…] about Japanese government urged to establish industrial espionage unit

German citizens to be given €1,200 a month for doing nothing

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German citizens are to be given €1,200 a month, or about $1,400, for doing nothing in an experiment to evaluate the effects of a concept called “universal basic income”.

Universal Basic Income, or UBI, is an idea that has been around for many years, and has many supporters and advocacy groups around the world, but was never really taken seriously in the past.

The notion of the government giving everyone in society a fixed regular amount of money whether they work or not sounds like a communist plot to take over the world. [Read more…] about German citizens to be given €1,200 a month for doing nothing

BP’s sale of its petrochemicals business suggests big oil is trying to become big electric

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BP recently sold its petrochemicals business for $5 billion to Ineos, a move which suggests that “big oil” companies are trying to become “big electric” suppliers.

The Wall Street Journal says the sale was the “largest deal by an oil major since the coronavirus outbreak gripped the global economy”.

WSJ says the transaction would enable BP to different itself from its rivals, many of which are forecasting significant growth for the segment and don’t look like they want to sell or leave the petrochemicals sector. [Read more…] about BP’s sale of its petrochemicals business suggests big oil is trying to become big electric

China overtakes US as world’s leading patent generator

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China has overtaken the US as the world’s leading researcher, generating 58,990 patents in 2019 compared with America’s 57,840. 

This is the first time since 1978 that the US has lost its position as the world’s leading producer of patent-winning inventions or innovations. (See animation below.)

The figures were published by the World Intellectual Property Organization, a specialized agency of the United Nations. [Read more…] about China overtakes US as world’s leading patent generator

Trump looking to ban Alibaba

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Alibaba, which at one time was the world’s largest e-commerce company, is in the sights of US President Donald Trump, according to Reuters.

Asked directly at a White House briefing if he was considering a ban on Alibaba, Trump replied: “We’re looking at other things, yes we are.”

Alibaba is a Chinese company most famous for its business-to-business website Alibaba.com, where qualified buyers can contact and do businesses directly with manufacturers and other industrial companies in China. [Read more…] about Trump looking to ban Alibaba

Sales of US cotton-harvesting machinery to China increase by 4,000 percent

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Sales of US-manufactured cotton-harvesting machinery to China have increased by 4,000 percent, according to a report on the South China Morning Post website.

The news outlet says its own analysis shows that the increase in April of this year was “more than 4,000 percent” when compared with the same month last year.

The main reason for the dramatic increases, says the SCMP, is the possible threat of US sanctions against China which might make it impossible to import hi-tech goods. [Read more…] about Sales of US cotton-harvesting machinery to China increase by 4,000 percent

Canada imposes tariffs on US goods in retaliation

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Canada is to impose tariffs on American imports in retaliation for the recent decision by the US to levy a 10 percent tax on Canadian aluminum imports.

Canada’s deputy prime minister Chrystia Freeland says that the tariffs would match the US taxes “dollar for dollar”, according to a story on Manufacturing.net.

President Donald Trump (main picture) has been expressing his dissatisfaction with the terms of the North American Free Trade Agreement since coming to office and at one point wanted to take America out of it. [Read more…] about Canada imposes tariffs on US goods in retaliation

German engineering companies losing massive market share due to subtle trade barriers

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German engineering companies are losing massive market share due to trade barriers around the world, according to a new report.

Globally its most successful sector, and represented by industry association VDMA, Germany’s engineering companies say they have lost between 70 and 100 percent of export markets in some countries.

The VDMA blames “egoism” and a climate of protectionism, according to Die Welt, which notes that subtle instruments such as localization initiatives and regulations, as well as the traditional blunt ones such as tariffs and subsidies, are being used to obligate companies to avoid buying from overseas machine builders. [Read more…] about German engineering companies losing massive market share due to subtle trade barriers

US demands Hong Kong-made goods be relabelled ‘Made in China’

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The United States government is calling for goods made or exported to the US from Hong Kong to be relabelled “Made in China”, according to a report on the South China Morning Post. 

The measure, to be introduced by US President Donald Trump, does not appear to need Congressional approval or any kind of vote.

It will mean that Hong Kong companies exporting to the US will be required to pay the same kind of punitive tariffs currently placed on goods arriving in America from mainland China. [Read more…] about US demands Hong Kong-made goods be relabelled ‘Made in China’

US targets Chinese tech giants for bans and sales

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The United States is targeting a range of Chinese-owned tech giants for bans or sales in a bid to put pressure on its economic rival.

The administration of President Donald Trump appears to be conflating “national security” issues with economic measures which it believes are fair while others consider protectionist.

Trump has signed executive orders which may see the sale within 45 days of video-sharing app TikTok to Microsoft. Another app in the administration’s bad books is WeChat, according to the South China Morning Post. [Read more…] about US targets Chinese tech giants for bans and sales