Trump administration moves to unify AI rules, bolster edge over China

The administration of US President Donald Trump on Friday unveiled an artificial intelligence (AI) policy framework aimed at curbing state-level restrictions on innovation, as it urged Congress to address AI risks and reinforce the US edge in an intensifying technology race with China. Congress should pre-empt state AI laws that “impose undue burdens”, to ensure a national standard instead of “fifty discordant ones”, Trump said in a new legislative recommendation named the National AI Legislative Framework. State law should not govern areas better suited to the Federal Government, or act…

From Fulbright scholar to Xiangsheng comic: how Jesse Appell found his voice in China

In 2012, American Jesse Appell stepped off a plane in China on a Fulbright scholarship to study an unusual subject: the art of Chinese comedy. Over the next few years, Appell, then in his 20s, found himself telling jokes in clubs across China, studying traditional comedy under a master, and even appearing on television. The country’s comedy scene and cultural footprint expanded in ways he could not have predicted – and Appell was along for the ride. “There were so many opportunities to be a part of building that country,”…

China adds 12 banks to digital yuan system, expanding e-CNY’s economic presence

China is set to include 12 more commercial banks under the umbrella of its central bank-backed digital currency, the latest move by Beijing to scale up adoption of the digital yuan, also known as the e-CNY, as it transitions from a cash alternative to an interest-bearing deposit instrument. The expansion comes after Beijing pledged to “steadily develop the digital yuan” in its latest five-year plan, the country’s blueprint document for socio-economic development. A draft Finance Law published on Friday recognised the digital currency as fiat currency equivalent to cash, while…

From years to a week: China unveils superfast software for hypersonic weapon design

Chinese scientists have developed revolutionary software capable of fully simulating the extreme physics of supersonic fuel combustion in just one week. Previously, the same task could take a supercomputer years to complete, they said. Developed by a research team led by Yao Wei at the Institute of Mechanics, Chinese Academy of Sciences, the software was used to run an ultra-high-fidelity simulation of a scramjet engine in which combustion takes place in supersonic airflow. Advertisement It modelled its internal dynamics across hundreds of millions of computational cells – more than 20…

Iran detected and damaged a US F-35 stealth jet in combat. Chinese experts map out how

The first known combat damage to an F-35 fifth-generation fighter aircraft from a likely Iranian attack suggests that stealth jets can be detected by electro-optical/infrared (EO/IR) sensor systems, according to Chinese analysts. US Central Command reported that the stealth fighter was forced to make an emergency landing during a combat mission over Iran on Thursday. “We are aware of reports that a US F-35 aircraft conducted an emergency landing at a regional US airbase after flying a combat mission over Iran,” spokesman Captain Tim Hawkins said in a statement. Advertisement…

Supermicro drops 28% after co-founder charged with smuggling Nvidia chips to China

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Supermicro stock fell as much as 28 per cent on Friday after a co-founder and two others working for the company were charged in New York with smuggling $2.5bn of Nvidia’s AI chip servers to Chinese customers. The US attorney’s office for the Southern District of New York on Thursday evening alleged that Wally Liaw, a co-founder and member of Supermicro’s board of directors, conspired with a Taiwan-based Supermicro employee…

Supermicro drops 30% after co-founder charged with smuggling Nvidia chips to China

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Supermicro stock fell as much as 30 per cent on Friday after a co-founder and two others working for the company were charged in New York with smuggling $2.5bn of Nvidia’s AI chip servers to Chinese customers. The US attorney’s office for the Southern District of New York on Thursday evening alleged that Wally Liaw, a co-founder and member of Supermicro’s board of directors, conspired with a Taiwan-based Supermicro employee…

China’s rare earth magnet exports to the US keep falling as Europe gains

China’s exports of rare earth permanent magnets to the United States continue to fall, at a time when Washington and its allies are stepping up efforts to reduce reliance on the country’s critical mineral supply chains. Shipments of permanent magnets to the US totalled 994 tonnes in January and February, down nearly 22.5 per cent year on year, according to data released on Friday by China’s General Administration of Customs. This marked the seventh consecutive month of decline. Over the two months, the US was China’s third-largest buyer of rare…

Can the US reopen the Strait of Hormuz? Many military analysts are sceptical

US air strikes may have weakened Iran’s ability to blockade the Strait of Hormuz, but in the short term it is probably too risky to provide a military escort for oil tankers because of the threat from drones and mines, according to Chinese analysts. Multiple media reports have said the United States was considering the use of ground troops to open the waterway, but many military observers have argued this would not be enough without further protracted fighting. The strait is a vital shipping route that carries around 20 per…

Can a surge of new arrivals rescue Hong Kong’s property sales market?

Weekends are when Stacy Wang makes the best of her new home. A native of Beijing, the 42-year-old moved with her young son to Kowloon, just over the water from Hong Kong Island, to join her husband, who was posted there by his mainland-based company. Together they arrange play dates in the Kowloon Cultural District, spending time in the park or visiting the science and space museums. Now that temperatures are milder, they hike up The Peak or walk around Upper Shing Mun Reservoir; her son loves the wild monkeys.…