Dec 7, 2021
12:19:00pm
12:19:00pm
Apple's Tim Cook secretly signed a 5 year agreement with China worth $275B
Sorry for the Paywalled report. I hate almost everything about this.
Couple of interesting points
The agreement included a pledge from Apple to help Chinese manufacturers develop "the most advanced manufacturing technologies," "support the training of high-quality Chinese talents," use more components from Chinese suppliers, sign deals with Chinese software firms, collaborate with research in Chinese universities, and directly invest in Chinese tech companies, as well as assistance with around a dozen Chinese government causes. If there were no objections from either side, the deal would be automatically be extended for an additional year until May 2022, according to the agreement.
Apple vowed to invest "many billions of dollars more" than its current expenditure in China, including on new retail stores, research and development facilities, and renewable energy projects. Other internal documents reportedly showed that Apple's pledge amounted to more than $275 billion in spending over a period of five years.
The Information suggests that Apple is heavily reliant on Cook for international negotiations and speculates that it could face difficulties dealing with government affairs when Cook stands down as the company's CEO.
Couple of interesting points
The agreement included a pledge from Apple to help Chinese manufacturers develop "the most advanced manufacturing technologies," "support the training of high-quality Chinese talents," use more components from Chinese suppliers, sign deals with Chinese software firms, collaborate with research in Chinese universities, and directly invest in Chinese tech companies, as well as assistance with around a dozen Chinese government causes. If there were no objections from either side, the deal would be automatically be extended for an additional year until May 2022, according to the agreement.
Apple vowed to invest "many billions of dollars more" than its current expenditure in China, including on new retail stores, research and development facilities, and renewable energy projects. Other internal documents reportedly showed that Apple's pledge amounted to more than $275 billion in spending over a period of five years.
The Information suggests that Apple is heavily reliant on Cook for international negotiations and speculates that it could face difficulties dealing with government affairs when Cook stands down as the company's CEO.
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