Chinese money powered the US tech boom, but it’s going – The Wall Street Journal

Chinese investors were once embraced in Silicon Valley for their cash and access to one of the world’s largest markets. Today, they are less welcome.
Published on: 

US president Donald Trump has followed a policy of aggressively using American economic might to pursue US geopolitical objectives. His primary targets have been its neighbour Mexico and its primary strategic rival, China. Trump has added tariffs to billions of dollars of Chinese goods and made strong demand for China to change its economic strategies and policies. He has also worked to destroy Chinese tech champion Huawei by shutting it out of global supply chains. His approach is reshaping the global economy in unpredictable ways. The US and Chinese economies have become strongly entangled over recent decades. As Trump seeks to thwart China's rise, the consequences of his actions are showing up in unexpected places, such as Silicon Valley, which has been a key beneficiary of Chinese investment. It's hard to say what the world will look like at the end of Trump's first term in office. But it certainly won't look the same as it did before, when the US focused on building trade and a shared global order. That's bad news for small, open, trade-reliant economies like SA. – Felicity Duncan

Chinese cash that powered Silicon Valley is suddenly toxic

By Rolfe Winkler

Silicon Valley startup Pilot AI Labs Inc. signed a Chinese-backed venture-capital firm as its first big investor in 2015. By last summer, Pilot AI wanted it gone.

___STEADY_PAYWALL___

Loading content, please wait...

Related Stories

No stories found.
BizNews
www.biznews.com