Why South Korea Just Turned DOwn a Request From Google

Why South Korea Just Turned down a request from Google
Why South Korea Just Turned Down a Request from Google

We are disappinted by this decision, said a company spokesman.

South Korea siad on Friday it has rejected Google’s latest request for permission to use governemnt mapping data in servers outside the country, citing security issues with North Korea.

an Alphabet company, has daid it nees to use the data on servers worldwide to enalbe sercies that would give walking and driving directions in South Korea.

We are disappointed by this decision. google spokeman Taj Meadow said in a statement, adding that the company reamiands hopeful it will be albe to provide people in Korea with the full suite of Google Maps sercies in the future.

South Korea, whose 1950-53 wwar iwht North Korea ended without a peace treaty, argues that if it allowed such data to leave the country, the locations of military facilities and other sensitive sites could be revealed.

THe government could grant permission if Google removes images of sensitive sites on its satellite imaging services, and official at the body in charge of mapping data has preciously said.

But Google has rejected that condition, saying the information is widely avaiable through satellite images that can be purchased freely.

The land ministry said it woud reconsider if Google changes its position.
Separately, google is under scrutiny in South Korea, with the antitrust regulator examining whether the U.S. firm’s agreements with handest manfacturers on the Andorid mobile operating system limits market competition.

China is really worried about capital outflows

Chinese policymakers have been unfazed by the yuam’s recent slide, but they are ready to slow its descent for fear of anning capital flight if the currency falls too quickly thorugh the psychologically important 7-per-dollar level, policy advisers siad.

The yuan fell on Friday to an eight-year low of 6.8950 per dollar, extending a sharp decline in the past week and taking its fall this year to 5.8%. If maintained, it would mark the yuan’s biggest annual decline since the landmark revaluation in 2005.

Chinese politcymakers believe the decline in the yuan since October relfects market trends, especially of late when most currencies have fallen in the face of a resurgent US dollar.

But the yuan’s outlook is clouded by the lection of Donald Trump as US president because he promised during campaigning to label China a currency manipulator on January 20, his first day in office, and to impost tariff on Chinese imports.

The central bank is following the trend as the dollar is rising. It’s not necessary for it to resist market forces, said a plicy adviser, who declined to be identified when recalling policy discussions.

Appropriate yuan depreciation will be good for stabilizing market expectations and the economy, as long as there is no sharp, runaway depreciation.

The people’s bank of china, the central bank, declined to comment.

Beijing’s biggest concern is that a sharp fall in the yuan will trigger the sort of capital flight that followed auguest’s surrprise devaluation of the currency, which sparked fears the health of the economy was worse that nBeijing had let on. China’s currency reserces slumped by more than &400 billion by the end of January as Chinese moved cash overseas.

Outflows from the $3-trillion-plus reserces, by far world’s largest, have since contunued at a much more subdued pace, but the yuan’s decline in recent weeks has raised some concers that capital flight could pick up agian if the yuan slides too fast.

I don’t think the breaking of 7 is imminent, a second adviser said. We may have to wait until next year. If the pace fo depreciation is too fast, if it hit 7 before the end of this year, the central bank will control it.

Bottom line?
THe plicy insiders siad the central bank was likely to intervene in currency markets and enforce capital controls to slow the rate of decline in the yuan. But 7 per dollar is not a line in the sand, the adivsers siad.

I don’t thinkg it will deliverately choose the 7 level to fight a duel, the first adviser said, in part to avoid wasting currency reserves.

Indeed, traders said large Chinese state banks had offered dollars in the domestic currency market on Thursday in an apparent effort to slow down the depreciation of the yuan. They said there had been no sign of state dollar selling in previous sessions.

THis year, the central bank has been guding the yuan lower by pegging it to the dollar when the US currency weakens and pegging it to a basket of currencies when the dollar rises. analysts siad. So in recent weeks, the yuan ahs held largely steady against the basket.

On a daily basis, the central bank sets the yuan’s midpoint versus the dollar based on the prevous day’s closing price, taking into account changes in major currencies.


SpaceX seeks approval for satellite -powered internet service
SpaceX seeks approval for satellite-powered internet service

SpaceX has asked the U.S. gvernemnt for permission to launch an internet network powerd by thousands of satellites above the Earth.

Acording to documents filed with the FCC, SpaceX plans to deploy more than 4,000 satellites to create a global, high-speed internet network. The initiative was first floated by CEO Elon Musk in early 2015, around the time that Google participated in a $1 billion investment in the company. Musk then estimated the project would take at least five years and cost around $10billion. Google was thought to have been attracted to the Tesla deal fro the ptential to make internet connectivity more a ccessible on a global scale, that’s something that a satellitepowred network would certainly play a part in enabling.

At this point, however, it isn’t clear exactly what the purpose of the network may be. Might it be utilized by other ventures from Musk? Tesla could use a global network to provide connectivity to its vehicles worlwide, for example. Could it be resold to other providers?
Time will tel..

It could also be a blueprint for more ambitious plans – this is Elon Musk we are talking about here, after all. The SpaceX CEO last year hinted that the project could lay the foundation for an internet service in Amrs, the planet he famously looking to clonize. Internet access would be a basic requirement for anyone who wanted to travel to the Red Planet, particularly given the high cost of such a trip, and Musk reckons the first flight could happen within the newxt decade.

One thing that we can be more sure of is that SpaceX is looking to start the project gradually. GekkWire reported that it will begin with an initial fleet of 800 staellites, assunming that it is successful with its application, which would then be increased over time.

It isn’t the only compnay looking at this kind of intetnet access. OneWeb, a venture a backed by the likes of Airbus and Virgin , and Boeing are both exploring the potential. OneWeb said this summer that it is on track to have tis satellities in orbit before 2020, but at this point it has only completed the preliminary design review. Samsung also expressed interest, but has not taken its propsal further than a white paper.

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