Crypto News 

With 7,600 Blockchain Patent Applications, Chinese Firms Far Outpace US

“South Korea submitted close to 1,150 applications within the same time frame, while Japan submitted fewer than 380 applications” writes Joeri Cant for cointelegraph.com. Measured by patent applications in the sector, China is handily outpacing other countries including the United States in blockchain technology.With 512 applications, Chinese retail giant Alibaba Group Holding took the lead amongst the ranking of corporate applicants compiled by Japan’s NGB based on data from Innography.On Nov. 20, Japan-based financial newspaper Nikkei reported that Chinese companies submitted around 7,600 applications between 2009 and 2018 — about three…

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Yen gains, yuan down as trade woes, Hong Kong strife sap risk appetite

“Besides the tariff row, Hong Kong has emerged as another flashpoint that some traders say could further worsen U.S.-China relations” writes Midwest Communications Inc for 95kqds.com. The passage of a U.S. law supporting the protesters is bound to anger Beijing and potentially undermine efforts to secure a trade deal.The Japanese currency briefly pared gains after Bloomberg reported Chinese Vice Premier Liu He as saying he is cautiously optimistic about a preliminary trade deal.Trump and U.S. Treasury Secretary Steven Mnuchin said in an Oct. 11 news conference that an initial trade…

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Mark Zuckerberg’s sharp criticism of China is reportedly not going down too well with Facebook’s base of Chinese employees

“Facebook CEO Mark Zuckerberg’s fresh attacks on China is stoking tensions with Facebook’s Chinese employees, according to a new report from The Information” writes Isobel Asher Hamilton for businessinsider.com. The Information doesn’t go into detail, but writes that Zuckerberg’s increasingly aggressive stance on Beijing’s free speech policies isn’t going down well with Facebook’s base of Chinese employees, many of whom actually hail from mainland China.Chinese employees have also taken note of criticism made by execs associated with Facebook, The Information reported.A Chinese Facebook engineer was fired in October after reportedly…

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Beijing tariff demands may expand U.S.-China ‘phase one’ trade deal significantly

“China’s commerce ministry said this month that removing tariffs imposed during the trade war is an important condition to any deal” writes Midwest Communications Inc for 95kqds.com. A ‘phase one’ trade deal, once expected to be completed within weeks of an October news conference between Trump and Chinese vice premier Liu He, could now be pushed into next year, trade experts say.But it may morph into something bigger if U.S. President Donald Trump agrees to Beijing’s demands to roll back existing tariffs on Chinese goods, people familiar with the talks…

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News Stocks 

Asia stocks slip as Trump threatens higher tariffs if China doesn’t strike a deal

“CNBC reported earlier in the week, citing a government source, that China is pessimistic about the trade deal” writes Eustance Huang for cnbc.com. Asia stocks traded lower Wednesday morning as U.S. President Donald Trump threatened to raise tariffs on Chinese goods if the two economic powerhouses do not strike a deal.Trump said Tuesday he would “just raise the tariffs even higher” on Chinese goods if a deal between Washington and Beijing is not reached.South Korea’s Kospi shed 0.37%, while the S&P/ASX 200 in Australia declined 0.96% in morning trade. Source: cnbc.com

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Trump Threatens to Raise Tariffs on China if No Trade Deal Reached

“With less than a year until the 2020 presidential election, Trump is eager to secure a trade deal with China to fulfill a major campaign promise” reports thehill.com. If we don’t make a deal with China, I’ll just raise the tariffs even higher.”. The comment is likely to jolt markets and throw further into question the ability of the Trump administration to secure a trade agreement with Beijing.Trump has imposed billions of dollars in tariffs on Chinese goods to boost pressure on China’s fading economy and induce Beijing to reform its…

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US Senator proposes new law aimed at limiting Apple data flow to China

“The bill would also stop American companies like Apple from storing user data in China” writes Buster Hein for cultofmac.com. Under Hawley’s proposed law, the U.S. state department would have to approve any acquisitions of American tech companies by Chinese companies.Last year, Apple migrated all of its iCloud data for Chinese users over to state-controlled servers.The bill, called the National Security and Personal Data Protection Act, aims to limit the flow of data between the U.S. and China.The iPhone-maker says it does not store U.S. users’ data on Chinese servers. Source:…

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US again extends limited reprieve on tech sales to Huawei

“The Trump administration has extended for 90 more days a limited reprieve on U.S. technology sales to Huawei” reports thebusinessjournal.com. The limited reprieve renewed Monday applies to technology sales and transfers necessary for existing networks and services to continue to operate.The U.S. government blacklisted the Chinese tech company in May, deeming it a national security risk.That means U.S. firms aren’t allowed to sell technology to Huawei without government approval. Source: thebusinessjournal.com

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GOP senator introduces bill to limit flow of US data to China

“Chinese companies with vast amounts of personal data on Americans are required by Chinese law to provide that data to Chinese intelligence services,” Hawley said” reports thehill.com. “Chinese law allows the Communist Party to seize data from American companies operating in China whenever it wants, for whatever reason it wants.”. Much of Hawley’s concern stems from a Chinese law that requires companies operating in China to work with Beijing’s government. Source: thehill.com

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TikTok is reportedly considering a rebrand in the US to shed its Chinese roots

“According to the Journal, TikTok employees have advised senior executives that the company could use a tactical rebrand to escape some of the recent scrutiny” writes Isobel Asher Hamilton for businessinsider.com. The Journal’s report suggests that this increased scrutiny is worrisome enough for TikTok’s leadership to consider scrubbing its image as a Chinese company.TikTok is exceptional as a Chinese social media company which has garnered huge success outside its domestic market, and broken Facebook’s monopoly on social apps.Reports have emerged of the company censoring content it fears may anger the…

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