President Biden traveled abroad to South Korea this past weekend. 

Part of his trip included a visit to a Samsung semiconductor plant to shore up technology ties between our countries as the U.S. seeks to bolster struggling supply chains and get a handle on its manufacturing as competition with China continues to ratchet up.

Although he didn’t name drop China specifically, Biden said recently that the U.S. should continue building business relationships with countries that more closely share our values. 

The tour of Samsung’s factory was shared with the newly elected South Korean President, Yoon Suk-yeol. In addition to strengthening business ties, this was Biden’s first in-person meeting with the new president.

Back on U.S. soil, Biden has been putting some pressure on Congress to pass a wide-sweeping bill that would boost our competitiveness with China.

Read below for more on that and everything I have my eye on this week…

1. Navigating Chip Competition with China

In an effort to deepen business ties and sharpen the U.S.’s competitive edge against China, President Biden traveled to South Korea to meet with the newly elected president and tour one of Samsung’s semiconductor factories. 

Biden will also be traveling to Japan with the same goal of bolstering our technology supply chain to outflank China. 

On his trip to Japan, he is planning to hold a meeting with the leaders of Japan, Australia, and India who make up the Quadrilateral Security Dialogue alongside the U.S.

2. Apple Moves to Increase Production Away from China

Coming from Beijing's increased Covid restrictions, Apple has announced to a few of its contracted manufacturers that it’s looking to increase production outside of China. 

Some of the countries getting a closer look from Apple are India and Vietnam. Both countries already hold existing sites responsible for a small portion of Apple’s production around the world.

This indicates a change in sentiment since over 90% of Apple’s products are manufactured in China, including iPhones, iPads, Mac computers, and more.

3. Mark Zuckerberg Sued by DC Attorney General Over Cambridge Analytica

Today, DC Attorney General Karl Racine filed a lawsuit aimed at Mark Zuckerberg for misleading the public on Facebook's handling of privacy and personal data as it relates to the Cambridge Analytica scandal.

Filed in DC superior court, the lawsuit acts as Racine's most recent attempt at holding the Facebook co-founder personally liable after a judge rejected an attempt last year to name Zuckerberg as a defendant in the ongoing suit against Facebook for the same issue.

This is the latest development in a multi-year legal battle between Facebook and Racine's office over Facebook’s failure to disclose the leak of data to Cambridge Analytica.

4. Boeing Sends Astronaut Capsule on Unmanned Test Flight

Late last week, Boeing launched its Starliner spacecraft on a crew-less test mission. The spacecraft was developed to ferry astronauts to and from the International Space Station (ISS). 

This latest test follows two previous failed attempts. Now, Boeing's goal is to prove the spacecraft can dock with the ISS. Naturally, an unmanned test mission must be completed before any trips with a crew can be carried out. 

Although there were some small issues, Boeing said they wouldn’t impact the overall mission.

5. Protecting the Earth from Asteroids

One of NASA’s primary missions is to protect the Earth from any asteroids that carry the potential for a collision course. 

And NASA’s Planetary Defense Team recently developed new software to do just that. 

The software’s main function is to detect incoming asteroids well before they hit. 

To a bright future,

Ray Blanco
Chief Technology Expert, Technology Profits Daily
AskRay@StPaulResearch.com