Tim Cook secretly concludes $ 275 billion deal with China in 2016

Based on the information and documents published by paywalled, it appears that Tim Cook In 2016, it personally agreed to a five-year contract with China. The report said that Apple executives had proposed the deal because of concerns about the consequences of a trade war, a small role in the Chinese market and a weak relationship with Chinese officials.

Alleged internal documents show that Cook lobbied directly with Chinese officials about services such as iCloud, Apple, and Appostor. Cook is said to have accepted a memorandum of understanding between Apple and one of China’s most powerful government agencies, the National Development and Reform Commission, to enjoy regulatory exemptions; But it also seems to have made concessions to China.

The 1,250-word agreement was written by Apple’s government affairs team in China under Cook’s oversight. In addition, Cook is said to play a key role in Apple’s government meetings and business, and his retirement is likely to cause a number of problems for Cupertinos. The report adds:

In May 2016, Cook announced that Apple would invest $ 1 billion in Chinese startup Didi Chuxing to attract the attention of Chinese officials. A little later, Cook And Jeff Williams and Lisa Jackson They met with senior government officials in Zhonguanhai, the headquarters of the Chinese Communist Party. Cook’s negotiations led to the successful signing of a multibillion-dollar deal and the lifting of a number of regulatory measures against the company with exemptions and access to the Chinese market in exchange for massive investment and trade deals and training of workers in the country.

Part of the terms of the agreement is Apple’s commitment to help Chinese manufacturers develop the most advanced production technologies, support the training of Chinese talent, use more parts from Chinese suppliers, sign contracts with Chinese software companies, collaborate on academic research, and invest directly in companies. Chinese technology and assistance to about a dozen are among the goals of the Chinese government. If the parties do not object, according to the agreement, the contract will be automatically extended for another year until May 2022.

Related article:

Apple has reportedly pledged to invest billions of dollars more in China than it currently does. Apple invests in sectors such as new retail stores, R&D facilities, renewable energy projects, and more. The tech giant has reportedly invested more than $ 275 billion in China over the past five years; More than the market value of Intel!

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