US Commerce Secretary Howard Lutnick stated on Thursday that the social media platform TikTok must be taken out of Chinese control, according to a report in Reuters. Lutnick added that the United States government should oversee the platform’s algorithm, reinforcing the administration’s stance on the application’s ownership and operation due to national security concerns.
China released a draft amendment to its pricing law on Thursday as part of an effort to curb excessive competition and price wars among its firms, as per a report in Reuters. The move comes amid persistent deflationary pressures and signals from Chinese leaders that they intend to rein in such price wars, with expectations growing for a new round of factory capacity cuts as part of a broader campaign against deflation.
A growing online scam known as ‘cyber kidnapping’ is targeting Chinese international students, according to a report in Al Jazeera. In these extortion schemes, criminals often impersonate Chinese police or embassy officials to manipulate the students. The victims are coerced into isolating themselves, faking their own abduction, and sending staged photos or videos to their families, who are then pressured to pay a ransom.
The success of the scam relies on exploiting the students’ vulnerability, which stems from factors like cultural respect for authority, fear of repercussions for their families in China, and unfamiliarity with local legal At least $1 billion worth of Nvidia’s advanced artificial intelligence chips were smuggled into China during the three months after Washington intensified its chip export controls, Reuters said in a report. The report cites the Financial Times, which found that Nvidia’s high-end B200 processors, banned for sale in China, are now widely available on a thriving Chinese black market for US chips.systems in their host countries.