Apple CEO Tim Cook Pledges To Invest $508 MILLION In China…Defends Globalization [VIDEO]

Apple’s CEO is pushing for globalization while dismissing Trump’s “America first” mantra. Meanwhile, Apple competitor Samsung Austin Semiconductor LLC plans to invest more than $1 billion in a U.S. factory, adding hundreds of jobs.

Samsung announced in November of 2016, that it will use most of the money towards an advanced smart chip, called system-on-chip products, for smartphones and tablets at its fabrication facility (a.k.a. “fab”) in Austin, Texas. The South Korean-based tech company, which currently employs 3,000 people in Austin, said new manufacturing technicians and engineers will be needed in early 2017.

“This means we’re going to be procuring a lot more equipment, installing tools into our ‘fab’ and amping up our wafer production,” Samsung spokesperson Catherine Morse said. “We have a great partnership with Austin Community College, and they’re doing a lot of training of folks who can then take these middle-skilled job.”

Apple Chief Executive Tim Cook has expressed support for globalization during a rare public speech in China, as his company faces political pressure in the U.S. to bring back factories.

Cook said China should continue to open its economy to foreign firms, while speaking at the government-sponsored China Development Forum in Beijing on Saturday.

‘I think it’s important that China continues to open itself and widens the door if you will,’ Cook told the forum.

The Apple CEO’s comments come amid rising tensions between the U.S. and China, with protectionist rhetoric from U.S. President Donald Trump sparking concern of increased trade friction between the two countries.

‘The reality is countries that are closed, that isolate themselves, it’s not good for their people,’ Cook said.

He said that globalization had lifted hundreds of millions out of poverty across the world.

Cook, who rarely gives public speeches, said Apple’s innovation could help drive job creation in China and that the company’s app development already supported nearly two million jobs in the country.

It comes after Apple revealed plans on Friday to set up two new research and development centres in Shanghai and Suzhou in China.

The company has pledged to invest more than 3.5 billion yuan ($508 million) in research and development in China. –Daily Mail

 


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