A paywalled IT industry website, The Information has released a major story headlined “Inside Tim Cook’s Secret $275 Billion Deal with Chinese Authorities.” A handful of Apple executives, concerned about the poor press in China, apparently felt compelled to seek a stronger relationship with the Chinese government.
According to alleged papers, Apple CEO Tim Cook allegedly “personally lobbied officials” in China about threats to Apple Pay, iCloud, and the App Store. According to documents, Cook utilized a “memorandum of understanding” between Apple and a prominent Chinese government body to obtain concessions for regulatory exemptions.
Moreover, Apple has pledged to assist Chinese manufacturers to build the most sophisticated manufacturing technology after investing a billion dollars in Chinese ride-sharing services. If no party objects, the agreement will be automatically extended for another year until May 2022. Apple promised to invest billions of dollars more in China than it does.
Given the fast-rising tensions between China and the rest of the globe, Apple might be accused of betraying its allegiances or worse. Because of the company’s apparent determination to utilize technology to control its populace, ties with China are particularly strained.
Apple’s new CEO, Tim Cook, has been announced, but what about multinational firms’ commitment to their home countries? In 1971, a writer published Sovereignty at Bay, a national bestseller exposing the development of international businesses. Furthermore, even though Chinese items are marketed in large numbers worldwide, no Chinese firm has come close to becoming a worldwide corporation.