The article discusses the escalating trade tensions between the US and China, affecting tech giants like Apple and Google. China is probing Apple’s app store policies and Google’s advertising practices, while Temu faces allegations of forced labor. Japan is regulating cryptocurrency exchanges, and cash use in Asia is declining significantly. Additionally, eFishery in Indonesia is facing fraud allegations, prompting investigations into its operations.
The ongoing China-US trade tensions are creating challenges for major American technology firms, including Apple and Google. China’s antitrust regulators are reportedly preparing investigations into Apple’s app store policies, particularly its commission rates and payment practices. This scrutiny reflects broader frustrations among companies, including Chinese firms like Tencent and ByteDance, over perceived lack of transparency in Apple’s operations.
In addition, the Chinese government is looking into Google’s monopolistic behavior within its advertising services and the dominance of its Android system over local manufacturers such as Oppo. Companies like Nvidia and possibly Intel may also face probes as the tension between the two nations escalates.
The US government’s inclusion of the company Temu on a list related to forced labor allegations could hinder its public listing aspirations. Further complicating matters, the EU is preparing to investigate Temu’s compliance with consumer protection laws. On a slightly more favorable note, former President Donald Trump has reinstated a duty exemption for certain goods from China, benefiting firms like Temu.
In Japan, the Financial Services Agency has taken action against six unregistered cryptocurrency exchanges, demanding that Apple and Google remove these platforms from their app stores. This request marks Japan’s increasing regulation of the cryptocurrency space.
A Worldpay study indicates a significant drop in cash transactions across Asia, predicting that cash use will plummet from 47% in 2019 to just 14% by 2027, driven by digital payment innovations such as QR codes and smartphone payments.
In Indonesia, the agritech startup eFishery, once celebrated for its innovative approach to fish feeding, is facing serious allegations of fraud. An investigation is urging investors to decide between liquidation or restructuring, as the company grapples with significant internal issues.
In the broader Asia region, developments continue to unfold rapidly, with Paytm exploring international ventures and Indian startups like Ola making substantial investments in AI technology. These moves signify a shift toward greater technological competitiveness in the Indian market.
In summary, the China-US trade standoff has profound implications for major tech companies like Apple and Google, potentially impacting their operations in both nations. As scrutiny increases, firms must navigate a complex web of regulations and investigations. Developments in cryptocurrencies and the digital payment landscape also pose challenges and opportunities across Asia, highlighting the dynamic nature of the tech environment in the region. The situation surrounding eFishery in Indonesia exemplifies the greater scrutiny startups are under amid allegations of wrongdoing, reinforcing the need for transparency and accountability in business operations.
Original Source: www.asiatechreview.com
Leave a Reply