Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse


Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse
Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach.

At a Time Magazine conference on Tuesday, Cook said that Europe’s GDPR (General Data Protection Regulation), which aimed to give consumers greater control over their data, was a good first step though it doesn’t go far enough. He’s skeptical of the U.S. pushing in the right direction because of the anti-regulation positions taken by American businesses.

“I’m not confident, is the short version of the statement,” Cook said, when asked how confident he is that the U.S. would come up with smart, non-destructive regulations. “I think this an example where Europe is more likely to come up with something. GDPR isn’t ideal but GDPR is a step in the right direction.”

Cook has been stressing the need for regulation of late, which is often self-serving because unlike tech giants such as Google and Facebook, Apple’s existing business wouldn’t be threatened by enhanced privacy requirements. In an op-ed in Time in January, Cook called on Congress to pass “comprehensive federal privacy legislation,” a theme he continued to stress at the conference on Tuesday.

“We all have to be intellectually honest,” Cook said. “We have to admit that there’s something we’re doing isn’t working and that the technology needs to be regulated. There are now too many examples where ‘no rails’ have resulted in great damage to society.”

While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. “Therefore there’s lots of gravity around not doing something.”

Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse” and requiring all data brokers to register.

In Europe, both Google and Facebook have faced significant challenges related to privacy. Facebook was embroiled in a scandal around how Cambridge Analytica, a consultancy, gained the information of 87 million Facebook users. Google has been force to comply with EU laws around “the right to be forgotten,” which require it to delete personal information about users in certain circumstances.

Because the majority of Apple’s revenue comes from selling computer equipment and phones, not by targeting and selling ads, it would need to make fewer changes if comprehensive privacy regulations were enacted.

“I am hopeful and we are advocating strongly for regulation because I do not see another path at this point,” Cook said.

WATCH: Walt Mossberg on Apple’s need for big innovation


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


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A trade war between the US and Europe is unlikely to happen. Here’s why

Washington and Brussels have been at odds over trade since President Donald Trump was elected in 2016 and ended trade negotiations between both sides of the Atlantic. Trump has said that Europe is “possibly just as bad as China” when it comes to trade and called it a “brutal” trading partner. However, despite U.S. threats over new tariffs on Europe and the latter’s willingness to retaliate, analysts are not expecting a trade war between the economic giants for several reasons. “For us, a trade w


Washington and Brussels have been at odds over trade since President Donald Trump was elected in 2016 and ended trade negotiations between both sides of the Atlantic. Trump has said that Europe is “possibly just as bad as China” when it comes to trade and called it a “brutal” trading partner. However, despite U.S. threats over new tariffs on Europe and the latter’s willingness to retaliate, analysts are not expecting a trade war between the economic giants for several reasons. “For us, a trade w
A trade war between the US and Europe is unlikely to happen. Here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: silvia amaro, pool, getty images news, getty images
Keywords: news, cnbc, companies, trade, europe, european, unlikely, tariffs, heres, products, washington, war, trump, president, happen, goods, eu


A trade war between the US and Europe is unlikely to happen. Here's why

Washington and Brussels have been at odds over trade since President Donald Trump was elected in 2016 and ended trade negotiations between both sides of the Atlantic. Trump has said that Europe is “possibly just as bad as China” when it comes to trade and called it a “brutal” trading partner.

However, despite U.S. threats over new tariffs on Europe and the latter’s willingness to retaliate, analysts are not expecting a trade war between the economic giants for several reasons.

“For us, a trade war requires trade as a share of GDP (gross domestic product) to decline,” Ricardo Garcia, chief euro zone economist at UBS, told CNBC Tuesday, adding a “low probability” to this scenario.

“We think the EU would be in a much better position to retaliate than China and is prepared to do so in a highly targeted fashion ahead of the U.S. presidential elections in 2020,” he said.

Trump shook the European Union last year when he decided to slap tariffs on European steel and aluminium. Brussels retaliated immediately, putting duties on denim, peanut butter and other American goods. The EU also took the case to the World Trade Organization (WTO).

To bridge their differences and, above all, prevent further duties on EU goods, European Commission President Jean-Claude Juncker traveled to Washington a couple of months later. He agreed with President Trump to work together to bring existing tariffs towards zero on non-auto industrial goods; to buy more liquefied natural gas from the U.S. and to find ways to bring their standards closer together.

On Monday, the 28 European countries finally adopted a common position to negotiate trade with the U.S. The EU wants a deal “strictly focused on industrial goods,” thus excluding agricultural products – a proposal that President Trump does not like.

“They barely take our agricultural products, and yet they can sell Mercedes Benz and they can sell anything they want in our country including their farm products, and it’s not fair,” Trump said Monday, threatening to impose tariffs on European carmakers if the EU does not expand its negotiating remit.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: silvia amaro, pool, getty images news, getty images
Keywords: news, cnbc, companies, trade, europe, european, unlikely, tariffs, heres, products, washington, war, trump, president, happen, goods, eu


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Goldman Sachs expects weak earnings growth across all major markets in 2019

Investors can expect weak earnings growth across all major markets in 2019, according to Goldman Sachs’ chief global equity strategist. Both Goldman and Citigroup missed revenue estimates in financial results announced on Monday, with fellow Wall Street giants Morgan Stanley and Bank of America scheduled to report earnings later this week. “We do think that earnings growth is going to be quite weak this year in all of the major markets,” he said. “So having seen the rebound that we’ve had alread


Investors can expect weak earnings growth across all major markets in 2019, according to Goldman Sachs’ chief global equity strategist. Both Goldman and Citigroup missed revenue estimates in financial results announced on Monday, with fellow Wall Street giants Morgan Stanley and Bank of America scheduled to report earnings later this week. “We do think that earnings growth is going to be quite weak this year in all of the major markets,” he said. “So having seen the rebound that we’ve had alread
Goldman Sachs expects weak earnings growth across all major markets in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: elliot smith
Keywords: news, cnbc, companies, europe, sachs, goldman, think, markets, secondhalf, recovery, expects, earnings, growth, major, 2019, going, weak


Goldman Sachs expects weak earnings growth across all major markets in 2019

Investors can expect weak earnings growth across all major markets in 2019, according to Goldman Sachs’ chief global equity strategist.

Both Goldman and Citigroup missed revenue estimates in financial results announced on Monday, with fellow Wall Street giants Morgan Stanley and Bank of America scheduled to report earnings later this week.

Goldman’s Peter Oppenheimer told CNBC’s “Squawk Box Europe” on Tuesday that more dovish guidance from central banks has been crucial in triggering a recovery in equity markets, meaning the focus will now shift to earnings season.

“We do think that earnings growth is going to be quite weak this year in all of the major markets,” he said. “So having seen the rebound that we’ve had already, much is going to depend now on how far earnings can grow, and I think that’s going to be quite modest.”

While the first quarter is expected to be negative for the U.S., Goldman Sachs expects a recovery at quarterly level during the second-half of the year, both in the U.S. and globally.

He added: “We do think global activity will improve in the second-half of the year, even in Europe which has really lagged behind, we have some tailwinds from moderation in fiscal policy, particularly in Germany, and also Europe should benefit from the pickup in China and elsewhere.”


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: elliot smith
Keywords: news, cnbc, companies, europe, sachs, goldman, think, markets, secondhalf, recovery, expects, earnings, growth, major, 2019, going, weak


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Europe may be playing spoiler to the elusive US-China trade deal

The trade statistics from the U.S. Commerce Department indicate that — on Trump’s watch — China pocketed a U.S. trade surplus of $829.3 billion between January 2017 and January 2019 (the latest U.S. data point available). I believe that the Chinese are making a mistake by challenging the U.S. on such a sensitive issue. Had Beijing made such a gesture of smart statecraft, it would have smoothed the way to a fast and reasonable trade agreement. China has now become the EU’s second-largest trade pa


The trade statistics from the U.S. Commerce Department indicate that — on Trump’s watch — China pocketed a U.S. trade surplus of $829.3 billion between January 2017 and January 2019 (the latest U.S. data point available). I believe that the Chinese are making a mistake by challenging the U.S. on such a sensitive issue. Had Beijing made such a gesture of smart statecraft, it would have smoothed the way to a fast and reasonable trade agreement. China has now become the EU’s second-largest trade pa
Europe may be playing spoiler to the elusive US-China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: dr michael ivanovitch, alessia pierdomenico, bloomberg, getty images
Keywords: news, cnbc, companies, spoiler, uschina, elusive, xi, eu, trade, chinese, beijing, deal, united, billion, visit, china, europe, playing, surplus


Europe may be playing spoiler to the elusive US-China trade deal

The trade statistics from the U.S. Commerce Department indicate that — on Trump’s watch — China pocketed a U.S. trade surplus of $829.3 billion between January 2017 and January 2019 (the latest U.S. data point available).

I believe that the Chinese are making a mistake by challenging the U.S. on such a sensitive issue. Granting that Washington may have gone too far in its attempts to control China’s economic policies, Beijing still could have – and should have – preempted all that by reducing its sales to the U.S. while stepping up purchases of American goods and services. That would have shown Beijing’s determination to substantially run down its excessive, and unsustainable, surpluses on U.S. trades.

Had Beijing made such a gesture of smart statecraft, it would have smoothed the way to a fast and reasonable trade agreement. And it is quite possible that such a gesture could have also opened up a new chapter of friendlier, more cooperative and more productive bilateral relations.

Indeed, Chinese President Xi Jinping cannot expect his idea of a “great power relationship” to work while China continues to maintain an excessively unbalanced trade relationship with the United States.

Beijing, of course, has its own reasons for doing what it’s doing, and its attitude on trade issues reflects a much broader view of its relations with Washington.

It is also very likely that China could have been encouraged in its intransigence on U.S. trade by the fact that America’s close friends and allies are all flocking to Beijing in search of trade and investments.

China has now become the EU’s second-largest trade partner, closely behind the United States. Beijing’s share of EU trade has tripled since 2000 to 15.4 percent, and is now only slightly below the U.S. share of 17.1 percent. The big difference is that last year the EU ran a 184 billion euro trade deficit with China, while recording a 140 billion euro trade surplus with the U.S.

A recent visit to Europe by Xi in late March followed by last week’s visit of Chinese Premier Li Keqiang are the latest indications of how much the U.S. “trade war” with China differs from majestic welcoming ceremonies and an eager search for mutually beneficial relations the Chinese statesmen have encountered during their trips to Italy, France, the EU Commission and the Balkans for an annual summit with Central and East European leaders.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: dr michael ivanovitch, alessia pierdomenico, bloomberg, getty images
Keywords: news, cnbc, companies, spoiler, uschina, elusive, xi, eu, trade, chinese, beijing, deal, united, billion, visit, china, europe, playing, surplus


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Europe backs copyright overhaul that threatens to hit YouTube and Facebook hard

EU countries approved sweeping reforms to the bloc’s copyright laws on Monday, marking a symbolic end to a political battle that has pitted tech giants against high-profile media figures. The copyright directive was backed by 19 countries at an EU Council vote, with six member states — including Italy and the Netherlands — voting against it. This means they will have to acquire licenses from rights holders to be able to host such content in the first place. The EU, however, says this won’t be th


EU countries approved sweeping reforms to the bloc’s copyright laws on Monday, marking a symbolic end to a political battle that has pitted tech giants against high-profile media figures. The copyright directive was backed by 19 countries at an EU Council vote, with six member states — including Italy and the Netherlands — voting against it. This means they will have to acquire licenses from rights holders to be able to host such content in the first place. The EU, however, says this won’t be th
Europe backs copyright overhaul that threatens to hit YouTube and Facebook hard Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: ryan browne, emmanuele contini, nurphoto, getty images
Keywords: news, cnbc, companies, facebook, tech, able, wont, eu, youtube, countries, overhaul, law, hard, worry, europe, copyright, content, hit, backs, threatens


Europe backs copyright overhaul that threatens to hit YouTube and Facebook hard

EU countries approved sweeping reforms to the bloc’s copyright laws on Monday, marking a symbolic end to a political battle that has pitted tech giants against high-profile media figures.

The copyright directive was backed by 19 countries at an EU Council vote, with six member states — including Italy and the Netherlands — voting against it. Three countries abstained from the vote.

The legislation, which was passed by lawmakers at the EU Parliament last month, aims to update Europe’s rules on copyright to reflect the challenges posed by the age of information. But it’s been criticized by the likes of Google and internet freedom campaigners who worry it will result in censorship.

One of the most heavily scrutinized aspects of the law, Article 13 — or 17 as it’s now numbered — would make tech firms liable for copyright breaches. This means they will have to acquire licenses from rights holders to be able to host such content in the first place.

Opponents of the law say this will lead to controversial filtering systems that block everything from memes to GIFs before they’re even uploaded. The EU, however, says this won’t be the case, claiming that people will still be able to share such content freely.

Either way, it’s expected to hit platforms that rely on user-generated content — like YouTube, Facebook and Instagram — hard.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: ryan browne, emmanuele contini, nurphoto, getty images
Keywords: news, cnbc, companies, facebook, tech, able, wont, eu, youtube, countries, overhaul, law, hard, worry, europe, copyright, content, hit, backs, threatens


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Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f


Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f
Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


Turkish central bank needs to be 'fully independent,' IMF's Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now.

One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession.

“Turkey faces a number of challenges, and one of them is that the central bank needs to be fully independent so it can continuously assess and tighten policies as circumstances change in a forward-looking manner,” Poul Thomsen, director of the International Monetary Fund’s Europe department, told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C. over the weekend.

“So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be fully independent in its assessment of monetary policy in addition to a number of other challenges on fiscal policy, and more transparency.”

Turkey’s economy is already in recession, rocked last year after fears over government interference into central bank independence, over-leveraged banks, a large current account deficit and a diplomatic spat with the U.S. triggered investor and capital flight. The lira lost 36 percent of its value against the dollar by the end of 2018.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


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Facebook, Instagram, WhatsApp suffer hours-long outage in US, Europe

Facebook, Instagram and WhatsApp were down Sunday. All three social media platforms, including Facebook Messenger, were not loading as of early Sunday morning. Downdetector.com, a site that monitors site outages, shows Facebook was down since 6:30 a.m. EST in much of the world, with thousands of reported outages concentrated in northeastern U.S., Europe and the Philippines. An email requesting comment about the outage was sent to Facebook and Instagram. There are more than 1.52 billion daily act


Facebook, Instagram and WhatsApp were down Sunday. All three social media platforms, including Facebook Messenger, were not loading as of early Sunday morning. Downdetector.com, a site that monitors site outages, shows Facebook was down since 6:30 a.m. EST in much of the world, with thousands of reported outages concentrated in northeastern U.S., Europe and the Philippines. An email requesting comment about the outage was sent to Facebook and Instagram. There are more than 1.52 billion daily act
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Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: chesnot, getty images
Keywords: news, cnbc, companies, site, hourslong, platforms, europe, social, media, suffer, outage, whatsapp, instagram, facebook, users, outages


Facebook, Instagram, WhatsApp suffer hours-long outage in US, Europe

Facebook, Instagram and WhatsApp were down Sunday.

All three social media platforms, including Facebook Messenger, were not loading as of early Sunday morning.

Downdetector.com, a site that monitors site outages, shows Facebook was down since 6:30 a.m. EST in much of the world, with thousands of reported outages concentrated in northeastern U.S., Europe and the Philippines.

Facebook appeared to be back up and running for most users by 9 a.m. EST.

It was not immediately clear what caused the outage or how long the platforms would be down.

An email requesting comment about the outage was sent to Facebook and Instagram.

#FacebookDown, #instagramdown and #whatsappdown were all trending on Twitter globally.

Facebook acquired Instagram in 2012 and WhatsApp in 2014.

There are more than 1.52 billion daily active Facebook users, according to the social media network’s website.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: chesnot, getty images
Keywords: news, cnbc, companies, site, hourslong, platforms, europe, social, media, suffer, outage, whatsapp, instagram, facebook, users, outages


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UBS chairman: Europe is running out of economic policy options to boost growth

Both emerging markets and the U.S. appear poised to recover from last year’s economic stumbles, but problems persist for Europe, according to the head of global financial giant UBS. “We’re a bit skeptical about the ability of Europe to use stimulus to come out of this,” he said. In many European countries, including Italy and France, there’s very little room for governments to use fiscal policy to stimulate the economy, Weber said. Only Germany has room for additional fiscal measures, but Berlin


Both emerging markets and the U.S. appear poised to recover from last year’s economic stumbles, but problems persist for Europe, according to the head of global financial giant UBS. “We’re a bit skeptical about the ability of Europe to use stimulus to come out of this,” he said. In many European countries, including Italy and France, there’s very little room for governments to use fiscal policy to stimulate the economy, Weber said. Only Germany has room for additional fiscal measures, but Berlin
UBS chairman: Europe is running out of economic policy options to boost growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: saheli roy choudhury, angel navarrete, bloomberg, getty images
Keywords: news, cnbc, companies, economic, options, growth, weber, policy, europe, room, economy, running, monetary, lower, main, chairman, boost, fiscal, ubs


UBS chairman: Europe is running out of economic policy options to boost growth

Both emerging markets and the U.S. appear poised to recover from last year’s economic stumbles, but problems persist for Europe, according to the head of global financial giant UBS.

The continent is predicted to only achieve a slow rebound, Axel Weber, chairman of the Swiss investment bank, told CNBC’s Joumanna Bercetche in Washington D.C. on Thursday.

“We’re a bit skeptical about the ability of Europe to use stimulus to come out of this,” he said. “I think there is some downside risk in Europe and you have to acknowledge that. So, whilst I do have the main outlook to be a sort of L-shaped recovery, stabilization at a lower level, growth below potential, I don’t have the main scenario of a recession.”

The International Monetary Fund recently downgraded growth in the euro zone. It now expects the bloc to grow at 1.3 percent in 2019 — lower than its forecast had been six months ago.

In many European countries, including Italy and France, there’s very little room for governments to use fiscal policy to stimulate the economy, Weber said. That’s because their fiscal deficits are near the upper limit of the 3 percent of GDP that the European Central Bank allows. Only Germany has room for additional fiscal measures, but Berlin will only use it to boost the domestic economy, the UBS chief said.

On the monetary policy front, the ECB has pumped trillions of euros into the economy over the past few years to boost inflation and promote growth. Earlier this week, the ECB held interest rates steady.

“What you have to ask yourself is: After years of quantitative easing, is adding more of the same really going to have the same impact on the economy that it did have when they started this? My answer to that is, probably not,” Weber said.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: saheli roy choudhury, angel navarrete, bloomberg, getty images
Keywords: news, cnbc, companies, economic, options, growth, weber, policy, europe, room, economy, running, monetary, lower, main, chairman, boost, fiscal, ubs


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Commentary: It’s time for the US and Europe to ask what sort of world China wants to build

What sort of world does China want to create? And, what should the United States and Europe do to influence the outcome? Given the choice, most countries in the world still would rather navigate a world order where the United States is the dominant actor rather than China. As it’s now clear what China wants, a coordinated U.S. and European response grows more urgent. Frederick Kempe is a best-selling author, prize-winning journalist and president & CEO of the Atlantic Council, one of the United


What sort of world does China want to create? And, what should the United States and Europe do to influence the outcome? Given the choice, most countries in the world still would rather navigate a world order where the United States is the dominant actor rather than China. As it’s now clear what China wants, a coordinated U.S. and European response grows more urgent. Frederick Kempe is a best-selling author, prize-winning journalist and president & CEO of the Atlantic Council, one of the United
Commentary: It’s time for the US and Europe to ask what sort of world China wants to build Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: fred kempe, xinhua news agency, getty images
Keywords: news, cnbc, companies, sort, beijing, global, wants, build, european, europe, states, china, countries, ask, chinas, commentary, united, world


Commentary: It's time for the US and Europe to ask what sort of world China wants to build

European Union leaders sat down this week in Brussels for a summit with a China it recently branded a “systemic rival,” and the United States is nearing the end game trade talks with a China that national security documents refer to as a “strategic adversary.”

So, it’s surprising that trans-Atlantic leaders are neither working at common cause nor asking the most crucial geopolitical questions of our age.

What sort of world does China want to create?

With what means would it achieve its aims?

And, what should the United States and Europe do to influence the outcome?

By now, there is little remaining doubt that China’s continued rise marks the most significant geopolitical event shaping the 21st century. Yet U.S. and European officials — mired in issues ranging from Trump administration immigration gyrations to Brexit — have failed to give this mother of all inflection points enough attention.

Some are in denial about the fundamental change China’s rise may bring to the global order of institutions and principles established by the United States and its allies after World War II. Others concede that the structural stress between a rising China and an incumbent United States is the defining danger of our times, yet they offer neither an engagement nor containment strategy worthy of this epochal challenge.

That has produced the worst of all worlds.

Fearful that the United States has grown more determined to undermine his country’s rise, President Xi Jinping has doubled down on his determination to strengthen the Communist Party’s hold domestically while advancing China’s global influence. European allies — stung by trade actions against them and the lack of a U.S. galvanizing strategy to China — are hedging their bets.

European Council President Donald Tusk declared a “breakthrough” this week on some of the EU’s major trade disagreements, particularly regarding tech transfers and industrial state subsidies. Then in Croatia a couple of days later, Chinese Premier Li Keqiang pledged to respect EU standards and laws at a summit with Central and East European countries that closed 40 deals and expanded its ranks to Greece so that the so-called 16+1 grouping became 17+1.

That relatively positive news in Europe only further underscores the skill with which Chinese leaders are managing their historic aspirations.

Graham Allison, one of America’s most astute China watchers, quotes Singapore’s Lee Kuan Yew, who two years before his death in 2015 said this: “The size of China’s displacement of the world balance is such that the world must find a new balance. It is not possible to pretend that this is just another world player. This is the biggest player in the history of the world.”

In that context, what China wants is a play in three acts.

First, China wants ideally to push the U.S. out of its Asian region, or at the very least reduce its influence, to achieve a regional hegemony that makes all actors ultimately dependent on it. Second, it is acting globally to displace, if not yet replace, the United States wherever it can — including in major parts of Europe — most importantly through its Belt and Road Initiative.

Finally, it’s clearer than ever that Beijing by the time of the 100th anniversary of the People’s Republic of China in 2049 aspires to be the dominant economic, political and perhaps military power for an era where democracies remain but authoritarian systems are ascendant.

“China is unabashedly undermining the U.S. alliance system in Asia,” writes Oriana Skyler Mastro of Georgetown University in Foreign Affairs. “It has encouraged the Philippines to distance itself from the United States, it has supported South Korea’s efforts to take a softer line toward North Korea, and it has backed Japan’s stance against American protectionism … It is blatantly militarizing the South China Sea … It is no longer content to play second fiddle to the United States and seeks directly to challenge its position in the Indo-Pacific region.”

Yet it is beyond Asia where China’s reach has expanded fastest.

It’s hard to overstate the importance of the Belt and Road Initiative, whose impact on its times may outstrip that of America’s Marshall Plan, which at $13 billion of funding had neither BRI’s global aspiration nor resources. Though the BRI was launched only in 2013, conservative estimates have China already spending $400 billion on it, with hundreds of millions more in the pipeline for projects with some 86 countries and international organizations, most recently including the first G-7 member, Italy.

Though the BRI is a development scheme, its political and security benefits for China grow increasingly clear, whether through EU members who oppose human rights statements against Beijing or African or Middle Eastern countries who will be less likely over time to provide U.S. forces military access.

Finally, a growing number of experts believe China on current trajectories wants to fill America’s shoes as the dominant global agenda setter and rulemaker.

Bradley A. Thayer and John M. Friend, authors of the 2018 book “How China Sees the World,” write: “By 2049, Western-led institutions will remain, but their liberal principles will be diluted by reforms required by Beijing. As China’s economic power increases and more countries in both the developed and developing world become dependent on Chinese trade and investment, Beijing will use its economic statecraft to pressure countries to downplay or abandon their democratic values and liberal policies.”

By then, their relative resources will provide them far greater leverage.

If China reaches its stated development goals for the centennial of the Communist Party in 2021 and then the centennial of the People’s Republic in 2049, its economy will be 40% larger than the U.S. economy by the first date and three times larger by the second date, measured by purchasing power parity.

With stakes that high, the secondary questions are crucial. Does Beijing have the wherewithal to achieve such lofty aims, and can the U.S. and Europe alter that trajectory?

The answer to both questions is yes, but …

Chinese leaders’ reawakened sense of destiny is a much more overpowering force than is generally understood in Washington, D.C. Financial markets and Western political capitals are littered with those who have underestimated the durability of China’s rise.

That said, China’s slowing economy, the loss of manufacturing jobs, and its increasingly autocratic system introduces new vulnerabilities. There’s a higher level of grumbling among its business elites, political class and foreign investors.

Given the choice, most countries in the world still would rather navigate a world order where the United States is the dominant actor rather than China.

For that to be an option, however, the U.S. and Europe will have to change course in three respects.

First, they will have to address domestic challenges that have made their democratic and economic models less appealing globally. They will have to reinvigorate and, in some cases, reinvent the multilateral systems they and others created after World War II. Finally, they must find a way to act together to more intensively and more effectively engage with China to shape the future — collaborating with China where possible and competing where necessary.

As it’s now clear what China wants, a coordinated U.S. and European response grows more urgent.

Frederick Kempe is a best-selling author, prize-winning journalist and president & CEO of the Atlantic Council, one of the United States’ most influential think tanks on global affairs. He worked at The Wall Street Journal for more than 25 years as a foreign correspondent, assistant managing editor and as the longest-serving editor of the paper’s European edition. His latest book — “Berlin 1961: Kennedy, Khrushchev, and the Most Dangerous Place on Earth” — was a New York Times best-seller and has been published in more than a dozen languages. Follow him on Twitter @FredKempe and subscribe here to Inflection Points, his look each Saturday at the past week’s top stories and trends.

For more insight from CNBC contributors, follow @CNBCopinion on Twitter.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: fred kempe, xinhua news agency, getty images
Keywords: news, cnbc, companies, sort, beijing, global, wants, build, european, europe, states, china, countries, ask, chinas, commentary, united, world


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The ‘self-discovery’ trip Barack Obama took in his 20s—plus bucket list places he’s visiting soon

I had graduated from college, I had already worked,” Obama told Hilton CEO and WTTC chairman Christopher Nassetta. That trip was memorable because it was part of my self discovery,” he said. “I still remember taking the bus from Madrid to Barcelona, overnight. I befriended this fellow traveler on the bus who could speak English and I shared with him some bread and he shared with me some wine. And we arrived in Barcelona and it was just daybreak and I remember walking toward Las Ramblas.


I had graduated from college, I had already worked,” Obama told Hilton CEO and WTTC chairman Christopher Nassetta. That trip was memorable because it was part of my self discovery,” he said. “I still remember taking the bus from Madrid to Barcelona, overnight. I befriended this fellow traveler on the bus who could speak English and I shared with him some bread and he shared with me some wine. And we arrived in Barcelona and it was just daybreak and I remember walking toward Las Ramblas.
The ‘self-discovery’ trip Barack Obama took in his 20s—plus bucket list places he’s visiting soon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: jimmy im, jack brockway, getty images, peter macdiarmid, getty images news
Keywords: news, cnbc, companies, bucket, id, visiting, hes, selfdiscovery, remember, bus, list, trip, soon, places, europe, obama, wine, took, barcelona, memorable, shared


The 'self-discovery' trip Barack Obama took in his 20s—plus bucket list places he's visiting soon

A solo trip through Europe and Kenya when he was a young adult was “memorable” and “special,” Obama said at the World Travel & Tourism Council’s Global Summit 2019, and it taught him a lot about himself.

“I was already in my mid-20s. I had graduated from college, I had already worked,” Obama told Hilton CEO and WTTC chairman Christopher Nassetta.

But “I’d never traveled to Europe before. That trip was memorable because it was part of my self discovery,” he said.

“…I did not have any money,” Obama said. “I was traveling alone. In Europe, I was in these ‘pensiones’ [hostels] and I’d basically buy a baguette and cheese and ate that every day, and some wine on occasion.

“I still remember taking the bus from Madrid to Barcelona, overnight. My Spanish wasn’t very good. I befriended this fellow traveler on the bus who could speak English and I shared with him some bread and he shared with me some wine. And we arrived in Barcelona and it was just daybreak and I remember walking toward Las Ramblas. The sun was coming up…


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: jimmy im, jack brockway, getty images, peter macdiarmid, getty images news
Keywords: news, cnbc, companies, bucket, id, visiting, hes, selfdiscovery, remember, bus, list, trip, soon, places, europe, obama, wine, took, barcelona, memorable, shared


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