ITK Daily | December 14

Happy Wednesday.

Here’s today’s ITK Daily.

To be ITK, know this:

US lawmakers unveil bipartisan bid to ban China's TikTok: Reuters reports Republican Senator Marco Rubio on Tuesday announced bipartisan legislation to ban China's popular social media app TikTok, ratcheting up pressure on owner ByteDance Ltd amid US fears the app could be used to spy on Americans and censure content.

Ottawa hears of ‘active foreign interference network’ in secret Privy Council Office memo?CBC

China says it has taken US semiconductor rules to WTO: WSJ reports Beijing challenges Washington’s export controls, considering them trade protectionism.

Reuters: China readying $143 bln package for its chip firms in face of US curbs -sources

The global microchip race: Europe’s bid to catch up: The region still has hidden strengths in the equipment used in chipmaking but faces a shortage of skilled labor.?FT

+ The semiconductor market exceeded $500bn for the first time in 2021 and is estimated to become a trillion-dollar industry by 2030, according to McKinsey.

+ Taiwan is the global center for the most advanced chipmaking.

+ In terms of semiconductors below 10 nanometres — the leading-edge versions of the technology — Taiwan holds more than 90 percent of global market share.

+ Earlier this year the European Commission unveiled a plan to invest €43bn in an effort to tempt the world’s biggest chipmakers to set up factories in the bloc.

+ There are at least 81 new chip facilities to be built between 2021 and 2025; 10 will be built in Europe, compared with 14 in the US and 21 in Taiwan, according to the most recent data in September from SEMI, a US-based semiconductor industry organization.

+ “It’s all about relevancy. You have to stay relevant in the geopolitical context.”

+ + The decline of Europe’s mobile phone industry had left the continent without obvious customers for advanced chips.

+ + “Everyone talks about semiconductor manufacturing, but not enough attention is given to chemicals needed to produce these microchips... feels like chemicals are looked at like water or electricity, you open the faucet and it comes right out, but this is a misconception.”

Zero-COVID exit throws China's economy into disarray: Surge in cases depletes workforce, from factories to food delivery.?Nikkei

Bloomberg: China postpones key economic policy meeting due to COVID spike

+ Annual confab usually features setting annual economic targets

+ Officials likely worried over adding to COVID spread: analyst

As COVID spreads fast, Beijing isn’t in lockdown. But it feels like it.?Almost no one is venturing out, even after an easing of pandemic measures. Cold and flu medicines are scarce, but food supplies appear adequate.?NYT

Indian and Chinese soldiers battle in latest high-altitude clash on border?WP

+ Appearing before the Indian parliament Tuesday, Defense Minister Rajnath Singh accused Chinese troops of crossing into Indian territory and “disrupting the status quo unilaterally.”

+ Singh said the two sides were engaged in hand-to-hand combat and no Indians were killed or seriously wounded. He did not give details about what had happened or how many soldiers were involved in the confrontation.

+ Friday’s clash involved hundreds of soldiers, with some using primitive weapons reminiscent of the deadly 2020 brawl, according to Indian media reports.

+ China, for its part, has complained about India’s growing closeness with the United States, including in the realm of military cooperation. This month, the US Army’s 11th Airborne Division and its Indian counterparts took part in exercises known as Yudh Abhyas.

Biden’s Africa summit seeks to reset relations: War in Ukraine has exposed divisions over US efforts to isolate Moscow and maintain support for the war.?WSJ

+ Biden will welcome almost 50 African leaders to the White House tomorrow as the US tries to rally opposition to the Russian war in Ukraine.

Biden courts Africa in Washington summit: A three-day United States-Africa summit will be held against a backdrop of heightened geopolitical competition with China, Russia, and others.?Le Monde

US-Africa leaders summit: Forging a better partnership??The US-Africa Leaders Summit in Washington this week is a chance for the United States and African countries to move closer to "win-win" partnerships, analysts say.?DW

‘There must be more room for Africa,’ leader of African Union says: President Macky Sall of Senegal, chairman of the bloc, said in an interview before the US-Africa summit that it’s time for the continent to have more seats in global institutions.?NYT

Ghana reaches preliminary $3bn deal with IMF: FT reports officials in Accra must agree on conditions with other creditors before the three-year loan is signed off.

South Africa: President Ramaphosa avoids impeachment vote: DW reports that most MPs in the National Assembly have voted against adopting a report that could have seen impeachment proceedings begin. Cyril Ramaphosa has been under pressure over cash found at his private farm.

War in Ukraine: Macron's lone ranger diplomacy?Le Monde

+ "It is certain that, if one day the Russians decide to bomb Europe, Paris would not be the first capital targeted"

Bloomberg: Macron lobbies French businesses to help rebuild Ukraine

+ Macron gathers 700 France-based companies for reconstruction

+ Earlier, international donors pledged €1 billion of aid

Some EU states formally express concerns to France over Macron Russia comments: Reuters reports Baltic states and other European nations upset at comments made by French President Emmanuel Macron regarding security guarantees for Russia formally lodged disapproval and explained their position to France on Monday, diplomats said.

To end the war in Ukraine, follow Estonia, not France: Before talking to Vladimir Putin, the West should listen to Estonian Prime Minister Kaja Kallas, not French President Emmanuel Macron.?Andreas Kluth

AP: Donors pledge millions to get Ukraine through winter, bombs

CNN: US finalizing plans to send Patriot missile defense system to Ukraine

Reuters: Russia could resume business with Germany if it ends Ukraine war -Scholz

AP: Burning through ammo, Russia using 40-year-old rounds, US official says

In a wary Arctic, Norway starts to see Russian spies everywhere: Other European countries are, too, blurring the line between vigilance and paranoia.?NYT

+ European nations have grown wary that a desperate Kremlin is exploiting their open societies to deepen attempts at spying, sabotage and infiltration — possibly to send a message, or to probe how far it could go if needed

Denmark gets a new government, six weeks after elections: AFP reports Denmark has a new government after weeks of negotiations that will bring together a left-right political alliance between the Moderates, the Social Democrats, and the Liberals, prime minister Mette Frederiksen said on Tuesday.

TOI: British PM Sunak says he’ll visit Israel next year for its ‘landmark 75th birthday’

Bloomberg: Lula’s win certified by court, ending challenges to vote

+ Ceremony closes electoral process, paves the way for the inauguration

+ Security was increased at Brazil court amid possible protests

Cartels shifted from plant-based drugs to synthetics. Detecting them is far more difficult.?Mexican cartels are increasingly manufacturing drugs entirely from chemicals rather than relying on plants, making detection far more difficult.?WP

+ Cartels are increasingly manufacturing drugs entirely from chemicals, rather than on plants. If Mexico’s kingpins once owed their fortunes to rural fiefdoms of marijuana and heroin poppy, they now depend on a stream of chemicals, many from China.

+ Most of the world’s opium poppy had come from just three countries — Afghanistan, Myanmar and Mexico. Another three nations, Colombia, Peru and Bolivia, produced nearly the entire supply of coca, the base ingredient in cocaine. But chemicals are made all over the globe.

+ “You can’t stop this stuff, otherwise you’d seriously disrupt the global economy,” said Bryce Pardo, who until recently was the associate director of the Drug Policy Research Center at the Rand Corp.

+ “We are in a chemical, creative cesspool right now,” said Dan Ciccarone, a professor of medicine at the University of California at San Francisco who studies drug abuse.

Mexico backs Peru's ousted leader amid deadly protests: Peru has plunged into a deep political crisis since the removal of its former President Pedro Castillo. Mexico says the removal should be disregarded.?DW

Mexico's president likely to leave big projects unfinished?WP

Iowans knew this day would come: The long farewell to the Iowa Caucus.?Elaine Godfrey

Why the 2024 race is eerily quiet: The 2024 presidential campaigns of both Donald Trump and Joe Biden are riddled with uncertainties. That means other presidential hopefuls are lying low — for now.?Jonathan Martin

Trump in trouble: Republican support for his 2024 bid falls amid political, legal setbacks: By double digits, GOP voters prefer DeSantis as the 2024 presidential nominee.?Susan Page

+ Republican support for another Trump bid has significantly eroded.

+ Biden now leads Trump in a head-to-head matchup, 47%-40%.

+ Two-thirds of GOP and GOP-leaning voters want DeSantis to run.

Ron DeSantis outflanks Trump on the right with his call for COVID vaccine probe: NBC News reports one Trump adviser said Florida Gov. Ron DeSantis' call for the investigation is a "shot across the bow" with 2024 implications.

Is DeSantis more electable than Trump??Ed Kilgore

Hutchinson says Trump worst choice for GOP: AP reports Arkansas Gov. Asa Hutchinson, who is considering running for president, on Tuesday called a third Donald Trump White House bid the “worst scenario” for Republicans and said his call for terminating parts of the Constitution hurts the country.

Elon Musk has trumped Trump as America’s foremost culture warrior?Rich Lowry

Nuclear-fusion breakthrough accelerates quest to unlock limitless energy source: Experiment yields net-positive energy, a milestone in the effort to develop nuclear fusion as a source of clean power.?WSJ

How US scientists moved one step closer to dream of fusion power: Energy gain breakthrough raises hopes of an eventual abundant zero-carbon fuel source.?FT

The fusion breakthrough suggests that maybe someday we'll have a second Sun: In the meantime, we need to use the Sun we’ve already got.?Bill McKibben

A milestone for fusion power: More investment should be committed to translating the promise into a power station.?FT - Editorial

Bloomberg: Fusion breakthrough at weapons lab offers US a nuclear edge

+ Most immediate impact of the experiment applies to nuclear weapons

+ US announcement made after months of Russian saber-rattling

What to know about DOE’s fusion milestone: Experiments at a US government lab may have provided "proof that the physics work." But future fusion reactors might turn to a different technology for replicating the energy that powers the sun.?Politico

ABC: Australia's first complete plesiosaur fossil discovered in outback Queensland

2023 MotorTrend Truck of the Year: Ford F-150 Lightning

+ The first electric pickup to appeal directly to the existing truck market.

+?Ford Motor Co on Tuesday said it added a third work crew at an assembly plant near Detroit as it boosts the production of its F-150 Lightning electric pickup truck.

The Wall Street Journal named Emma Tucker, the editor of London’s Sunday Times, to lead its newsroom, the first woman to hold that role.

RedBird and IMI hand Jeff Zucker a $1B war chest to acquire or build sports, media, and entertainment companies: THR reports Gerry Cardinale’s RedBird and Abu Dhabi-backed IMI are behind the new JV being led by the former CNN and NBCU chief, seeking "large scale" investments.

Instagram challenges BeReal. and adds notes short-message feature: With fresh ways to connect with friends, is Instagram trying to be Instagram again??WSJ

Bloomberg: US freelancing surges to record as 60 million Americans go solo

+ About 39% of the workforce freelanced in 2022, up from 36% in 2021

+ More than 40% of Gen Z professionals freelanced this year

Some bosses embrace work from home to keep wages down: With potential hires in short supply, companies increase their recruiting in areas where pay is lower.?Bloomberg

+ @kevinolearytv: What are the most important qualities that make a successful entrepreneur? The ability to communicate.

U.S. Department of Justice is split over charging Binance as crypto world falters?Reuters

Crypto was always smoke and mirrors: The fall of FTX shocked everyone. Except for this guy.?Charlie Warzel

The indictment of SBF is a bombshell: Federal prosecutors have broken new ground with his shockingly fast arrest.?Ankush Khardor

+ Bankman-Fried is denied bail by a judge in the Bahamas.

+ His lawyer has already suggested SBF pay $250,000 cash for bail and wear an ankle bracelet so he can leave his Bahamas cell.

+ An extradition hearing for Bankman-Fried was set for February 8.

CNBC: Sam Bankman-Fried diverted FTX customer funds to donate to political campaigns, authorities charge

+ Federal authorities charged FTX founder Sam Bankman-Fried with using tens of millions of dollars of misappropriated customer funds to make illegal political donations to both Democratic and Republican candidates.

Celebrity promoters sued over Bored Ape NFT endorsements: THR reports the suit accuses the creators of Bored Ape Yacht Club NFTs of enlisting A-listers to mislead their followers into buying bad investments at inflated prices.

These are The Economist ’s best books of 2022: Their subjects include financial scandals, a witness to the Holocaust, and cell theory.?Economist

Sometimes When We Touch: Soft Rock dominated pop music. Then became a punch line. Now its influence is felt everywhere, from hip-hop samples to TikTok. The exclusive new series charts a musical movement through its most treasured songs, stories, and stars.?Trailer

Adam Sandler to receive Mark Twain Prize this spring at The John F. Kennedy Center for the Performing Arts : WP reports the “Happy Gilmore” star will become the 24th recipient of one of comedy’s highest awards.

Movie pirates: The Motion Picture Association says piracy costs the industry about $71 billion yearly.

England is so over Harry and Meghan?Geoffrey Wheatcroft

Taking to the woods with Maine’s ‘tree tippers’: Generations of Mainers have made a living, working seasonal, nature-based jobs. Harvesting the balsam used to make wreaths is one of them.?NYT

AIA to add girls flag football starting in fall of 2023: The Arizona Interscholastic Association’s Executive Board voted to establish girls' flag football as the association’s newest sanctioned sport. The first season of play will be in the fall of 2023.

Mike Leach, one of college football’s most innovative minds, dies at 61: The Mississippi State coach helped revolutionize football’s passing offense and guided some of the game’s most prolific quarterbacks.?SI

The absurd talent of Kylian Mbappé: The French star player has already proved that he’s one of the best in the game's history.?Clint Smith

World Cup success gives Moroccan diaspora chance to celebrate cultural roots: Atlas Lions’ run sparks widespread excitement as fans cheer the first African team to reach the semi-finals.?FT

Enjoy the ride + plan accordingly.

-Marc?

Caracal produces ITK Daily.

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