Apple’s ‘Symbiotic’ Relationship in China Faces New Questions
Summary
The Mate 60 Pro reportedly was fast enough to suggest the company and Semiconductor Manufacturing International Corp., China’s biggest chip maker, are making progress in producing homegrown tech to replace Western brands. Chairman Mike Gallagher, Republican of Wisconsin, and Raja Krishnamoorthi, Democrat of Illinois, are leading a delegation to meet Wall Street power players, including several leaders of banks, hedge funds and venture capital firms. On the agenda is a tabletop exercise with retired military generals and financial firms gaming out the geopolitical and business ramifications of a hypothetical Chinese invasion of Taiwan, a person close to the committee told DealBook. The committee launched an investigation of the asset manager BlackRock and the finance giant MSCI, saying their funds were investing in Chinese companies that were deemed a national security threat or were perpetrating human rights abuses. The Fed singled out “stronger than expected” tourism spending over the past two months — but survey respondents said they considered this to be “the last stage of pent-up demand for leisure travel from the pandemic era.” The labor market has cooled off.
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