Apple bypassed Chinese regulations by signing a $ 275 billion deal with the government

https://mundo.sputniknews.com/20211210/apple-esquivo-las-reglaciones-chinas-al-firmar-un-acuerdo-de-275000-millones-con-el-gobierno-1119176359.html

Apple bypassed Chinese regulations by signing a $ 275 billion deal with the government

Apple bypassed Chinese regulations by signing a $ 275 billion deal with the government

Some internal Apple documents that were leaked, as well as several testimonies, revealed that the Cupertino company signed an agreement with the Government … 12.10.2021, Sputnik Mundo

2021-12-10T04: 27 + 0000

2021-12-10T04: 27 + 0000

2021-12-10T04: 27 + 0000

economy

China

Manzana

tim cook

🏛️ companies

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In fact, it was Apple’s CEO, Tim Cook, who proposed this agreement and signed it so that the new laws and regulations in the Chinese smartphone market would not affect them as much. According to the revelations, the 1,250-word agreement was signed in 2016, and throughout this year he made a series of visits to the Asian country.The main problem they sought to solve with the agreement, were the fears that reigned in the company for possible retaliation by the Chinese government for what could be seen as a “low contribution” to the local economy. The fear was that this vision of the situation might not be limited to bad publicity, but could also lead to concrete actions directed against foreign manufacturers. Seeing the enormous importance that the Chinese market has for any company, including Apple, Tim Cook put in contact with Chinese officials to reach an agreement that would allow them to continue expanding their share in the Asian giant’s smartphone market. The key points of this agreement are the following, according to The Information portal: For its part, not only A series of regulatory actions in the technology sector market would be canceled, but Apple would even enjoy some exceptions that gave the US company an advantage over its foreign competitors. For example, Apple would have full access to the market. At the time of signing the agreement was valid for five years and expires in May 2022. Thus, it should not be a problem to extend it, as this will be done automatically unless One of the parties expressed a desire to end it there. An example of Apple’s actions was its $ 1 billion investment in Chinese startup Didi Chuxing in 2016. This is not the first time that the Cupertino company has given in to Chinese priorities in order to maintain a good position in the market. Thus, in 2019 it expelled the HKMap app that was used in the protests in Hong Kong when the Chinese government accused Apple of complicity in the riots.

https://mundo.sputniknews.com/20211102/la-crisis-global-de-microchips-golpeo-a-apple-mas-fuerte-de-lo-que-se-creia-1117791506.html

https://mundo.sputniknews.com/20211102/la-crisis-global-de-microchips-golpeo-a-apple-mas-fuerte-de-lo-que-se-creia-1117791506.html

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china, apple, tim cook, 🏛️ companies

Some internal Apple documents that were leaked, as well as several testimonies, revealed that the Cupertino company signed an agreement with the Chinese government for a value of 275,000 million dollars to avoid the regulations of the Asian country.

In fact, it was Apple’s CEO, Tim Cook, who proposed this agreement and signed it so that the new laws and regulations in the Chinese smartphone market would not affect them as much. According to the disclosures, the agreement of 1,250 words It was signed in 2016, and throughout this year he made a series of visits to the Asian country.

The main problem that they sought to solve with the agreement, were the fears that reigned in the company for possible retaliation by the Chinese government for what could be seen as a “low contribution” to the local economy. The fear was that this vision of the situation might not be limited to bad publicity, but could also lead to concrete actions directed against foreign manufacturers.

Given the enormous importance of the Chinese market for any company, including Apple, Tim Cook contacted Chinese officials to reach an agreement that would allow them continue to expand its market share of the smartphones of the Asian giant.

Apple logo - Sputnik World, 1920, 02.11.2021

“The global microchip crisis hit Apple harder than previously thought”
The key points of this agreement are the following, as revealed by the portal The Information:
Apple agrees to invest 275 billion dollars in China;
Part of the investments will be made in local manufacturers so that they would have the opportunity to obtain “the most advanced technologies“;
Apple would train talents in the country to use these technologies;
Apple products would have to use a higher proportion of components made by Chinese companies;
Apple would have to invest directly in these component manufacturers;
Apple would have to collaborate with Chinese universities and assist the Government in what was called its Causes.

On the other hand, not only would a series of regulatory actions of the technology sector market be canceled, but also Apple would even have some exceptions that outperformed the US company over its foreign competitors. For example, Apple would have full market access.

At the time of signing the agreement was valid for five years and expires in May 2022. With this, it should not be a problem to prolong it, as this will be done automatically unless one of the parties expresses its desire to end it there.

An example of actions by Apple was its investment of 1 billion dollars in the startup Chinese Didi Chuxing in 2016. This is not the first time that the Cupertino company has given in to Chinese priorities in order to maintain a good position in the market. Thus, in 2019 expelled the app HKMap used in protests in Hong Kong when the Chinese government accused Apple of complicity in the riots.

Apple logo - Sputnik World, 1920, 02.11.2021

“The global microchip crisis hit Apple harder than previously thought”

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