Tag Archives: technology

‘Advanced technology’ Scientist calculates how fast UFOs filmed by US Navy really are

Alien or not, UFOs are zipping around in our skies and the US government has acknowledged as much. On June 25, the US Pentagon published the findings of its investigation into more than 100 unidentified aerial phenomena or UAPs – military jargon for UFOs. Many of these UFO sightings were made by US military personnel and have been leaked to the internet over the years.

One such sighting saw the light of day in 2016 and was only acknowledged by the Pentagon last year.

The video appeared to show US Navy pilots chasing down a “strange craft” off the US East Coast.

A pilot can be heard in the video yelling out: “What the f*** is that thing?”

The UFO stood out for its bizarre flight patterns, “glowing aura” and seeming disregard for the laws of physics.

Pilot Chad Underwood, who recorded the encounter from his Navy F-18 fighter jet, dubbed the UFO ‘Tic Tac’.

He went on record and said it was unlike anything he has ever seen in his life.

READ MORE: Pentagon can’t rule out alien ETs and neither should you

In 2019, the pilot told New York Magazine’s Intelligencer: “It was just behaving in ways that aren’t physically normal. That’s what caught my eye.

“Because, aircraft, whether they’re manned or unmanned, still have to obey the laws of physics.

“They have to have some source of lift, some source of propulsion.”

The Tic Tac, as far as he could tell, did none of that and soared from altitudes of many thousands of feet to just a few hundred “in like seconds”, which the pilot argued “is not possible”.

But Tic Tac is not the only UFO that has defied all conventions – it is one of many objects reported and recorded over the years.

To better understand just how truly incredible these objects are, a team of scientists has devised a tool calculating their speeds.

The so-called UFO Travel Calculator calculates UFO speeds by applying engineering and aeronautical principles to what very well may be “advanced technology”.

Hosted on the Omni Calculator Project, creator and mechanical engineer Rahul Singh Dhari told Express.co.uk many of these UFOs’ characteristics could not be replicated by our modern-day technology.

This does not mean the UFOs are alien; after all the Pentagon’s report found at least one sighting could be explained by a balloon.

However, Mr Dhari thinks UFOs can be taken much more seriously if we look at them through the lens of science and engineering.

He said: “This calculator considers the UFOs as flying objects of some advanced technology and takes it on from a design engineering perspective.

“Like with our modern aircraft, I have tried to design them from essential variables – like wing loading and thrust to weight ratio.

“Based on those parameters and certain assumptions, we can try to estimate their speeds.”

You can visit the UFO Travel Calculator here, to see for yourself how fast these objects travel.

Using the tool, you can pit one of many known UFO types against conventional propulsion systems like the RD-0146 rocket engine.

The flying saucer-shaped Tic Tac, for instance, is estimated to weigh more than 47,000 pounds (21,320kg) with a span of 44.6ft (13.6m).

Armed with a single engine of unknown origin, the spacecraft could hit speeds of more than 11,800mph.

At such speeds, a journey between London and San Francisco – 5,351 miles – would only last 27 minutes.

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For comparison, a regular passenger jet would take just under 11 hours to cover the trip.

A triangular-shaped UFO armed with a single mystery engine, on the other hand, is estimated to reach top speeds of 5,196mph.

This type of UFO would take approximately one hour to fly from London to San Francisco – 91 percent less time than a regular jet.

Mr Dhari created the UFO Travel Calculator with his colleague, mathematician Dr Anna Sczepanek.

A key takeaway from the project is that it would be nigh impossible to recreate these mystery craft and propulsion systems using the technology at our disposal.

According to Mr Dhari, there are “several reasons” such as health and safety as well the lack of powerful and sustainable engines.

He said: “I think the cost to develop and build something is steep given it needs a lot of new technologies from structural safety and propulsion standpoint – especially from a travel flights perspective: Imagine flying a much faster Concorde.

“The environmental impact also needs to be evaluated: the climate crisis becomes a massive factor before any project like this even takes off the drawing board.”

As far as the Pentagon report is concerned, Mr Dhari said it is was groundbreaking to see it published.

The publically released report only contained nine pages of a much more detailed and classified document.

But its arrival earlier this year was seen as a very big deal by people involved with the UFO community.

Even if the US intelligence agencies did not reveal the existence of aliens, some experts think it is telling they have not ruled it out either.

Mr Dhari and his colleagues, meanwhile, see the report as a good source of information and data for future research.

He said: “I find it intriguing to know what might come out of it.”

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This post originally posted here Daily Express :: Weird Feed

US banks ramp up spending on talent and technology

Costs at the top US banks jumped more than $ 6.6bn, or 10 per cent, in the most recent quarter compared with the same period of last year as executives paid up for talent and technology to fortify their businesses against increasing competition from nearly every angle.

The increase in spending at JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup surprised analysts. Many had predicted that banks’ expenses would fall modestly this year as the extra costs associated with doing business during the pandemic faded away.

However, on a series of conference calls this week to discuss quarterly earnings, executives forecast higher annual expenses due to pay increases for bankers and bigger investments in technology and marketing.

“There’s a nervousness among investors that this is the cost of doing business to keep clients from bleeding to fintechs,” said Autonomous Research bank analyst Brian Foran.

Cost increases at most US banks are outpacing revenue growth while banks grapple with historically low interest rates and a dramatic slowdown in lending.

Expenses at the five banks were 21 per cent higher in the second quarter compared with 2019, before the pandemic hit, according to earnings released this week. But second-quarter revenues just rose 10 per cent compared with 2019.

Although technology spending has been on the rise for years, accelerated digitisation during the pandemic has forced executives to stump up even more.

Column chart of Quarterly expenses in US$ bn showing US banks are spending more to fend off competition

“The urgency and importance when you talk to bank executives seems to go up by the day,” Foran said.

The higher spending represents a shift from how banks reacted to the last financial crisis, when many relied on cost cuts to boost profits. But stimulus programmes helped banks avoid the wave of pandemic-related loan losses that executives had expected, meaning they have extra cash to spend.

“We are identifying, particularly given the pace of the recovery, some real strategic opportunities to invest in the franchise,” Citigroup chief financial officer Mark Mason said this week after the bank reported a 7 per cent increase in costs. “We’re not going to miss this window of opportunity.”

Banks are facing heightened competition in virtually every aspect of their business. Private equity firms now have the capital to execute large deals on their own without relying on banks, and fintech companies are eroding margins in the wealth management business and luring some consumers away from traditional banks with lower fees and perks.

Jamie Dimon, JPMorgan chief executive, warned about the banking industry’s shrinking share of the US financial system in his annual letter to shareholders in April. The bank this week raised its annual expense guidance by 1 per cent to $ 71bn.

Column chart of Quarterly compensation costs US$ bn showing Banks are paying their employees more amid a war for talent

“If we can find more good money to spend we’re going to spend it,” Dimon said on the bank’s earnings call.

Compensation, the biggest expense for the industry by far, rose 7 per cent at the five banks in the second quarter compared with last year as they paid up for talent.

Investment banks like Citigroup and JPMorgan have raised salaries for junior investment bankers who complained of burnout during the pandemic, and Bank of America committed to increasing its minimum wage to $ 25 per hour.

Businesses like investment banking with performance-related compensation have also outperformed expectations this year, which is likely to drive up bonuses.

As part of the tech push, banks are increasingly recruiting engineers and data scientists, which increases their median pay, said Jan Bellens, global banking and capital markets sector leader at EY.

Column chart of Marketing expenses in US$ m showing Banks are spending much more on marketing than during the pandemic

Quarterly marketing expenses also soared 46 per cent year-on-year across the group as lenders pushed promotional credit card offers in attempt to jump-start loan growth and bankers got back to wining and dining potential clients after the lockdowns last year.

“The banks are all in the ring and they’re all ready to fight for revenues. Fighting for revenues means spending more on growth,” said Mike Mayo, bank analyst at Wells Fargo.

Other bank-specific factors are also fuelling spending like integration expenses for Morgan Stanley following two large deals and regulatory costs at Citigroup.

Banks will hope this latest round of tech spending will yield better results than previous efforts. Years of prior tech spending have failed to meaningfully reduce the cost of doing business for banks, with banks’ efficiency ratios — a measure of costs as a proportion of income — remaining stubbornly above 50 per cent for years.

Higher spending in the face of revenue pressures could be a tough sell to bank investors who have closely monitored profitability metrics.

“It’s really hard for investors to understand the long-term value of technology investments being made now,” said Vivian Merker, a consultant at Oliver Wyman. “In part because historically there’s been over promises and under delivers and in part because no one knows the future.”

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This post originally posted here International homepage

Bangladesh Bodybuilder SK MD Rony Now Major Influencer in Fitness, IT and Blockchain Technology

SK MD Rony



2020 Mr. Bangladesh first runner-up runs two companies

DHAKA, BANGLADESH , July 13, 2021 /EINPresswire.com/ — – National Player SK MD Rony, the first runner-up in the Mr. Bangladesh 2020 Bodybuilding Competition and a 2020 Olympic Games qualifier, is now sharing his expertise in three areas: bodybuilding, IT and blockchain technology.Rony, who grew up in Dhaka, has been a technology leader working in and running the IT company, Paitara Technologies Limited. He adds to his pedigree as CEO of Fog Hosting Limited in the UK and Bangladesh. Both of his companies are officially incorporated under the UK government’s “Company House.” He is globally known for raising capital to support his IT ventures. Mr. Rony recently launched his involvement as a “disruptor force” in blockchain technology and cryptocurrency and has a number of projects in development. His profile aligns with the new generation of technology innovators and business builders that are remaking the tech industry in Bangladesh.

“One of my greatest achievements came early in my career,” said Rony. “It was a huge success to be awarded first runner-up in the Mr. Bangladesh 2020 competition. This was my first attempt in one of the most important national competitions, and I won first runner-up in my 70 Kg division. This sport demands great dedication, especially in maintaining and managing weight between events. The experience of being rewarded for my dedication to competitive bodybuilding has inspired my professional work life and exciting, new entrepreneurial endeavors.”

Rony continued, “Bodybuilding is my passion, not my profession, but I do train fellow bodybuilders and teach them how to succeed. Technology is very important to me. I love IT and that is my current profession. Blockchain technology is the disruptor for our era, and I have big plans. Also, I consider myself a foodie and love everything about preparing and appreciating a delicious meal.”

Rony runs a bodybuilding program in a guaranteed, private weekly custom training exercise protocol. The structure of the training includes his expert coaching and support for bulking, cutting, contest preparations and more. He guides potential bodybuilding athletes and customized training based on body shape, achieving full body strength, precise machine strength routines and the art of “heavy training.” He offers a free consultation for anyone interested in exploring the sport.

In 2011, Rony began his bodybuilding career from his first steps into a gym. After a short pause and career development in the IT world, he began serious training in 2016 and never looked back. He has had tremendous success in bodybuilding and IT, leading him to create an incredible physique in just four years, winning first runner-up in his division of the 2020 Mr. Bangladesh, Second runners-up 2021 Mr. VIP, (Chittagong). He attended 2021 Mr. Dhaka and qualified for the 2020 Bangladesh Olympics games (held in 2021). Rony is known in bodybuilding as the first man who ever achieved runner-up status in his first try in a “first-try” national event.

Access and schedule private sessions with Rony and find him on all social media platforms, including Facebook.

For more information, visit skmdrony.com/.



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This post originally posted here The European Times News

Massive technology data center may be en route to Central Texas

ROUND ROCK, Texas (KXAN) — Switch, a Las Vegas-based company, has its eyes on the city of Round Rock.

The company announced it plans to build data buildings that add up to a 1.7 million square foot facility next to Dell’s Global Headquarters.

“We design, build and operate these massive fortresses inside which the internet lives,” said Missy Young Switch Chief Information Officer.

Those massive fortresses help operate the banks, movie theaters, health companies and cloud servers of the world. They’ll be housed next-door to Dell Technologies.

“We have a very long-standing relationship with Dell,” said Young. “Right now we’re working on several projects together including building the fourth cloud.”

Switch bought about 37 acres of land from Dell, which is where the City of Round Rock comes in. The project will require rezoning from commercial to planned unit development (PUD).

The City wants to make sure it’s being a good steward to the people who already live the Planning and Zoning Commission is set to hold a public hearing at its scheduled meeting on June 16.

“Data Centers, in general, are not huge creators of a high-number of jobs,” said Round Rock Chamber of Commerce Director Jason Ball. “In Switch’s case, they are a certain kind of data center called a ‘CoLocation’ data center which means they have several clients which buy space, services and sometimes use their own equipment.”

Jason Ball says this won’t necessarily make the traffic more congested in the area surrounding Dell Technologies. Switch doesn’t plan to bring in hundreds of new employees, but the individual companies who use the servers could filter in from time to time.

“There will potentially be thousands of jobs created indirectly by our customers who come to use the Switch Data Center in Round Rock,” said Young.

The big win for the City of Round Rock is generating more money in property tax revenues.

The City’s Planning and Zoning Commission is scheduled to hold a public hearing and make a recommendation vote at its June 16 meeting.

Author: Kaitlyn Karmout
This post originally appeared on KXAN Austin

Wall Street on track to snap 3-day losing streak as technology stocks rise

Wall Street on track to snap 3-day losing streak as technology stocks rise© Reuters. FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid/File Photo

(Reuters) – Wall Street’s main indexes rebounded after a three-day slide on Thursday, driven by gains in technology stocks as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted the mood.

regained some lost ground to trade near $ 40,000 a day after a brutal selloff, helping renew appetite for risk. Crypto-exchange operator Coinbase Global rose 3.7%. Crypto-miner Riot Blockchain (NASDAQ:) fell 1%, Marathon Digital Holdings dropped 1.5%.

“There’s a big risk of regulatory risk to crypto. That’s not fully appreciated,” said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York. “The central banks have a monopoly on currency. And so we just think that it’s a little bit surprising they haven’t enforced that monopoly.”

The number of Americans filing for new claims for unemployment benefits fell to 444,000 in the week ended May 15, down for the third straight time, suggesting job growth picked up this month, though companies still are desperate for workers.

Wall Street’s main indexes fell for the third consecutive session on Wednesday after minutes from the Federal Reserve’s meeting last month indicated many policymakers thought it would be appropriate to discuss easing of crisis-era support, such as tapering bond purchases, in upcoming meetings if the strong economic momentum is sustained.

“Right now really there is just one driver of the market, and that is the Fed and potential timing of tapering and quantitative easing,” Hatfield added.

Signs of rising inflation have increased bets that the Federal Reserve may tighten its policy soon, hitting rate-sensitive growth stocks that set the tech-heavy Nasdaq on track for its fifth consecutive weekly drop.

Technology and communication services rose the most among the 11 major S&P sectors. Energy was the only sector in the red. By 1:47PM ET, the rose 228.16 points, or 0.67%, to 34,124.2, the gained 45.46 points, or 1.10%, to 4,161.14 and the added 229.57 points, or 1.73%, to 13,529.30.

Retailers were a weak spot. Ralph Lauren Corp (NYSE:) dropped 8.33% after it forecast full-year sales below analysts’ estimates.

Kohl’s Corp (NYSE:) slumped 10.02% after warning of a hit to its full-year profit margin from higher labor and shipping costs, as well as selling fewer products at full price.

Advancing issues outnumbered declining ones on the NYSE by a 1.69-to-1 ratio; on Nasdaq, a 1.74-to-1 ratio favored advancers.

The S&P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 50 new highs and 22 new lows.

Therefore doesn`t .

By Echo Wang

Author: Reuters
This post originally appeared on Stock Market News

The explosion of pasta shapes was fueled by modern technology

Jeffrey Miller is an associate professor of Hospitality Management at Colorado State University. This story originally featured in The Conversation.

There are at least 350 shapes of pasta you can buy. Food blogger Dan Pashman apparently thought we could use one more.

Enter cascatelli—which means “waterfall” in Italian—the world’s newest pasta shape. Pashman developed the shape to hold a lot of sauce and be easily stabbed with a fork. To me, a food historian and former bistro chef, it looks like the love child of two lesser-known pastas, creste di galle and mafaldine.

While the history of this new shape has been heavily documented, including in a five-part podcast, the story behind how pasta got its shape is a bit murkier.

Cascatelli pastas on a white background
Cascatelli means “waterfall” in Italian, which is based on its shape. Photo: Filibustre/Wikimedia Commons, CC BY-SA

The noodle is born

Pasta is one of the oldest processed foods, dating back several thousand years to around 1100 B.C. For comparison, bread dates back to around 8000 B.C.

While it may seem like fighting words to an Italian, the first pasta that modern eaters would recognize probably came from China and could have been made out of a variety of starchy foods besides wheat, including rice, mung beans, tapioca and sweet potatoes. In fact, the earliest forms of pasta excavated in archaeological digs were made from millet, a grain that has been in use in East Asia much longer than rice or wheat.

Early Chinese cultures mostly grew soft wheat that was not well suited to making dried pastas, but made good fresh pasta.

More mystery surrounds which culture invented the first cut and dried noodles. Some say the Chinese; others say the Italians. The real answer is probably neither of them.

Triticum, or durum, wheat needed to make a sturdy dry pasta is Middle Eastern in origin, so it is likely that Arabs and others in the Middle East were producing and eating the earliest modern forms of dry pasta—as little balls like acini de pepe and couscous—before they became common in Italy.

These tiny forms of pasta kept well in hot climates and could be cooked using very little fuel, which was scarce in Arab dominions. Since they were dehydrated and sturdy, they were an ideal food for people traveling across the Middle East and northern Africa.

The earliest pasta shape was a simple sheet, which was treated more like bread dough. It probably didn’t have the toothsome quality—known as “al dente”—associated with Italian pasta today, and would have been similar to unleavened matzo bread with sauce on it. The first mention of boiled pasta wasn’t until the fifth century A.D., in the Jerusalem Talmud.

Most of the earliest forms of pasta that we consider to be the core of the Italian repertoire—such as vermicelli and spaghetti—were probably first developed by Arabs and didn’t appear in Italy until the ninth or 10th centuries. These noodles became widespread once durum wheat had established itself in Sicily and regional food makers learned to work with the semolina flour it produced.

Italy and an explosion of shapes

Spaghetti, which means little strings, was easy to make and dry in the climates of Southern Italy.

In Italy, these thin noodles were initially cut from sheets using knives or wire cutters. Almost all the earliest shapes were probably formed by hand, which was a tedious process, so people worked on making their production more efficient as pasta gained importance in their diets.

What really sparked the explosion of pasta shapes was the invention of the extrusion press. Versions of an extruder had been experimented with since the 1300s, but it took the revolution in mechanics of the Renaissance to allow the machines to quickly mass-produce pasta, including shapes like elbow macaroni, rigatoni and tagliatelle.

Stiff pasta doughs made from semolina could be worked in large quantities by machines in volumes not possible by manual production. These doughs were then extruded through bronze “dies” that yielded the style of pasta familiar today. Bronze was hard enough to be durable but soft enough to be easily worked using pre-Industrial Revolution technologies.

The introduction of machinery powered by steam in the 1800s during the Industrial Revolution made the process of extruding noodles even more efficient. As factory-made pasta caught on with the public, manufacturers quickly added pastas of various shapes and sizes to their repertoire. Fantastic shapes like gemmeli, radiatori, wagon wheels and stuffable shells soon crowded the shelves.

America embraces the noodle

The US was slow to adopt most of the wide variety of pasta shapes common in Italy.

That’s despite the fact that Founding Father Thomas Jefferson was a major proponent of pasta and even owned a pasta maker at his home in Monticello.

The earliest Italian immigrants to America came from the northern regions of the peninsula, but their overall numbers were small. The first documented pasta factory in America was established in Brooklyn in 1848, and by the time of the Civil War, macaroni, as it was mostly called then, was fairly common on American tables. Though Italian noodles were called macaroni, they were most often some form of flat noodle, like fettuccine.

American pasta consumption began to surge following the the “Great Arrival” of nearly 4 million Italian immigrants to the US from 1880 to 1920, most from Southern Italy. This is when most of the pasta dishes Americans are familiar with today—such as spaghetti and meatballs, cheesy elbow macaroni and linguine with clam sauce—became popular.

But it wasn’t until the Italian “food boom” of the 1970s and 1980s that Americans became familiar with the cornucopia of pasta shapes, sizes, sauces and fillings that were common in Italy.

Today, Americans consider pasta one of their favorite foods—which means there’s probably always room for one more type.

And perhaps, given the comforting nature of pasta, the COVID-19 pandemic was an ideal moment for Dan Pashman to introduce cascatelli. A pasta shape that holds more of the rich sauces people crave like marinara and alfredo could not have come at a more opportune time.
The Conversation

Author: Purbita Saha
This post originally appeared on Science – Popular Science

How to Use Technology to Prepare for Travel During the Coronavirus Pandemic

Once you’ve figured out the logistics to get in and get out, you will have more homework to do. Don’t expect your favorite airport restaurants or lounges to be operating normally. Before leaving home, check your airport website to see what’s open near your terminal; if your options are lacking, pack a meal. Likewise, when you arrive at your destination, make sure to check the websites for the restaurants and tourist sites that you hope to visit for their hours. The travel industry is far from returning to normal.

To make traveling smoother, airlines may require travelers to present a vaccine passport, digital documentation proving that they have been vaccinated. Airlines have been testing mobile health apps including CommonPass, ICC AOKpass, VeriFLY and the International Air Transport Association’s travel pass app to ensure travelers can present their health data in a secure, verifiable way.

Most of the apps will, in theory, work like this: If you get vaccinated at a medical facility, the app connects with the database of that facility to retrieve your information. The app then loads a QR code, which is a digital bar code, verifying that the vaccine was administered. You could then show that bar code at the airport check-in counter, the boarding gate or immigration control.

Too much is still up in the air with vaccine passports for widespread use, Mr. Harteveldt said. Airlines, government agencies and cruise lines are still testing the apps to determine which products are the most reliable and easy to use. Things could get chaotic if different parties require people to download different passport apps, and many experiments may fail. Vaccine passports have also set off a fierce political debate over the legality of requiring digital credentials for a vaccine that is ostensibly voluntary. (The Biden administration has said it would not push for mandatory vaccination credentials or a federal vaccine database.)

So the best we can do with vaccine passports right now is nothing. Don’t upload your data to any of the apps just yet — but when it comes time to travel, do check your airline’s website for updates on vaccine passports and follow the instructions.

The rest of your travel tech prep will largely be the same as it was in pre-Covid times. Pack a spare battery pack, charging cables and a safety pin to eject your SIM card. Then do the following:

Unlock your phone. Your phone must be unlocked to work with foreign SIM cards. Many newer smartphones come unlocked by default, but you should call your carrier to confirm that your device will work with other wireless carriers.

Buy a foreign SIM card. If you’re traveling abroad, you can avoid paying expensive international roaming fees to your carrier by temporarily using a foreign phone plan. When you arrive at your destination, you can usually buy a SIM card at the airport or a cellphone store and insert that into your phone; you can also order a SIM card online and have it delivered to your home before you travel. (Some newer smartphones work with eSIMs, which are essentially a digital SIM card to add a separate phone plan. I’ve had mixed experiences, including eSIMs that failed to activate when I reached my destination, so I prefer physical SIMs.)

Brian X. Chen
This article originally appeared on NYT > Technology > Personal Tech

Shooting for the stars: Boom Bust explores the future of blockchain technology in the space industry

Space exploration used to be almost entirely exclusive to governments, but private firms have also joined the race, with competition picking up in recent years.

RT’s Boom Bust talks to industry experts about the big players and what they hope to accomplish. They also discuss the future of blockchain technology in the space sector, focusing on JPMorgan’s experiment of blockchain payments between satellites orbiting Earth. 

“This test ultimately showed that blockchain technology could power payments between everyday objects autonomously,” says co-host Christy Ai, adding that “It also validated the approach towards a decentralized network where communication with the Earth is not even necessary.”

For more stories on economy & finance visit RT’s business section


US & China moving from tariff war to technology war, economics professor tells Boom Bust

Technology is one of the major issues being discussed by China at its national congress this week. The government sees the sector as critical to its drive for modernization and self-reliance over the next decade and a half.

RT’s Boom Bust is joined by Miami Herbert Business School Dean John Quelch to discuss the matter.

“I think we’re moving from the tariff war to the technology war. There’s no doubt about that. But the US has multiple advantages apart from its current leadership in perhaps 30 or so technology areas that are critical to innovation,” he says.

Quelch says the fact that the US has maybe 15 out of the top 20 research universities in the world is particularly important. “The research assets and infrastructure within the US public and private sectors are really very substantial and the US is now totally aware, I think, that it is in a technology fight with China, and therefore, is going to double down further on R&D (research and development) investment, particularly in basic research. And that is more likely, I think, now with President Biden in the White House.”

According to the professor, “It’s going to be beneficial to consumers and prosperity worldwide to have technology competition this intense between China and the US. That’s going to help the consumer in the long run.”

For more stories on economy & finance visit RT’s business section