House Republicans Recommend Stiffer Response to China’s Rise

(Bloomberg) — Congressional Republicans are urging key industries to shift supply chains away from China and calling for stricter limits on some China-related investments, according to a report out Wednesday.



people walking in front of United States Capitol: A person runs past the U.S. Capitol building in Washington, D.C., U.S., on Friday, Aug. 7, 2020. Negotiations on a new coronavirus relief bill edged toward the brink of collapse after a meeting Thursday between White House officials and top congressional Democrats ended with each side accusing the other of being unwilling to compromise and the biggest issues far from resolved.


© Bloomberg
A person runs past the U.S. Capitol building in Washington, D.C., U.S., on Friday, Aug. 7, 2020. Negotiations on a new coronavirus relief bill edged toward the brink of collapse after a meeting Thursday between White House officials and top congressional Democrats ended with each side accusing the other of being unwilling to compromise and the biggest issues far from resolved.

The China Task Force, composed entirely of GOP House members after Democrats declined to join what was supposed to be a bipartisan committee, called China a “generational threat” akin to the Soviet Union during the Cold War.

Loading...

Load Error

The group also criticized the Chinese Communist Party for human rights violations and an early coronavirus response that relied on “coverups, arrests and blame-shifting, rather than transparency.”

“For decades, the United States and its allies have been asleep at the wheel,” said Task Force Chairman Michael McCaul, a Texas Republican. “Covid created an awakening experience for the American people and the sleeping giant has finally awoken.”

The report’s conclusion — that the last 40 years of diplomatic engagement with China has been a failure — comes as both parties in Congress increasingly support a tougher stance on Beijing. But the focus on China’s role in the spread of the coronavirus is viewed warily by Democrats, who don’t want to absolve President Donald Trump of any culpability for the pandemic’s impact on the U.S. before the Nov. 3 election.

What Hong Kong Losing Its U.S. ‘Special Status’ Means: QuickTake

Most of the report’s 400 policy recommendations are bipartisan, according to a task force aide. Some proposals, particularly those related to protecting intellectual property and shifting U.S. supply chains away from China, have broad agreement in Congress.

Rebuking China has been a rare source of bipartisanship in the Trump era, including when the Trump administration was trying to finalize a trade deal with the communist nation. Congress this year angered Beijing by passing legislation to impose sanctions on Chinese officials found to be undermining Hong Kong’s autonomy and oppressing Muslims in China’s Xinjiang province.

Lawmakers have shown some hesitation regarding the imposition of tight controls on the flow of capital between the two nations. But the House GOP report does recommend some restrictions on investment in Chinese firms, including for certain retirement accounts.

The task force also calls on the House to approve a Senate-passed bill to de-list Chinese companies on U.S. exchanges if they fail to comply with U.S. accounting standards. A companion measure has been introduced in the House, but has yet to be taken up by the Financial Services Committee.

The report’s criticism of China’s coronavirus response echoes some of Trump’s complaints, which Democrats warned were intended to distract from his administration’s missteps in managing the pandemic.

The U.S. leads the world in coronavirus cases and deaths,

Read more

Hillicon Valley: Murky TikTok deal raises questions about China’s role | Twitter investigating automated image previews over apparent algorithmic bias

Welcome to Hillicon Valley, The Hill’s newsletter detailing all you need to know about the tech and cyber news from Capitol Hill to Silicon Valley. If you don’t already, be sure to sign up for our newsletter with this LINK.



a sign on the side of a building: Hillicon Valley: Murky TikTok deal raises questions about China's role | Twitter investigating automated image previews over apparent algorithmic bias | House approves bill making hacking federal voting systems a crime


© Getty Images
Hillicon Valley: Murky TikTok deal raises questions about China’s role | Twitter investigating automated image previews over apparent algorithmic bias | House approves bill making hacking federal voting systems a crime

Welcome! Follow our cyber reporter, Maggie Miller (@magmill95), and tech reporter, Chris Mills Rodrigo (@chrisismills), for more coverage.

TIKTOK TUSSLE: A deal to avert a U.S. ban on TikTok appears to have been reached over the weekend, but several questions remain about the contours of the pending agreement.

The most pressing is what role the short-form video app’s China-based parent company, ByteDance, will have in the newly formed entity TikTok Global.

President Trump suggested Monday that the deal could be in jeopardy if Oracle and Walmart – the two American companies involved in the proposal – do not have full control of the new TikTok.

“And if we find that they don’t have total control, then we’re not going to approve the deal,” he said during an appearance on “Fox & Friends.”

One of the next steps in the approval process includes a review by the Committee on Foreign Investment in the United States (CFIUS).

Without a term sheet being public, it is difficult to know the exact breakdown of the agreement, which was tentatively approved just before a Commerce Department order would have barred TikTok from appearing in U.S. app stores.

But from what is known, it appears that the deal falls far short of the full-on sale of TikTok to an American company that Trump originally called for in August.

Together, Oracle and Walmart will take only a 20 percent stake in the new company, TikTok said in a statement over the weekend.

According to ByteDance, other U.S.-based TikTok investors like Sequoia Capital and General Atlantic will stay on in the newly formed company, which has an estimated value of between $50 billion and $60 billion.

Even with the financial stakes of four U.S. companies, it is difficult to envision a scenario where ByteDance entirely removes itself from involvement in such a successful video app.

In a statement Monday, ByteDance emphasized it will remain in control of the new TikTok business and, crucially, the recommendation algorithm that makes the platform so popular.

That position was directly contradicted by Oracle executive vice president Ken Glueck, who said Monday that “Americans will be the majority and ByteDance will have no ownership in TikTok Global.”

The discrepancy may be explained by ByteDance’s ownership of TikTok Ltd., a business incorporated in the Cayman Islands that currently owns TikTok’s American operations.

Read more here.

ALGORITHMIC BIAS TEST CASE: Twitter is investigating the algorithm it uses to crop pictures for its mobile platform after several users pointed out a tendency to zero in on white faces.

Controversy over

Read more

China’s exports jump amid Covid-19 recovery; UK house prices hit record – business live | Business





1,100 jobs to go at Pizza Express









House prices jump: what the experts say

Read more