{"id":27129,"date":"2019-12-17T14:23:26","date_gmt":"2019-12-17T12:23:26","guid":{"rendered":"https:\/\/www.bondora.com\/blog\/?p=27129"},"modified":"2019-12-17T14:23:26","modified_gmt":"2019-12-17T12:23:26","slug":"european-banks-slash-jobs-while-china-removes-all-foreign-tech","status":"publish","type":"post","link":"https:\/\/goandgrow.eu\/en\/blog\/european-banks-slash-jobs-while-china-removes-all-foreign-tech\/","title":{"rendered":"European banks slash jobs while China removes all foreign tech"},"content":{"rendered":"\n

China is taking a direct swing at foreign businesses by removing all foreign computer equipment<\/a> from its public institutions and public offices. China\u2019s public sector has previously used technology from the likes of HP, Dell, and Microsoft, all of which are likely to suffer as a result of the decision. It is estimated that up to 30 million pieces of hardware and technical equipment will be replaced in the next three years as a result.<\/p>\n\n\n\n

It\u2019s possible that the previously enacted United States policy of refusing to continue its information sharing with Chinese tech giant Huawei accelerated this move. Hu Xijin, the editor of the Global Times newspaper in China, mentioned this earlier in the year<\/a>:<\/p>\n\n\n\n

\"China<\/figure><\/div>\n\n\n\n

\u201cCutting off technical services to Huawei will be a real turning point in China\u2019s overall research and development and use of domestic chips,\u201d he said in a social media post. \u201cChinese people will no longer have any illusions about the steady use of US technology.\u201d<\/em><\/p>\n\n\n\n

This policy further perpetuates China\u2019s desire to be a world leader in technology. It\u2019s \u201cMade in China 2025\u201d initiative hopes to remove any need for tech imports into the country by 2025. It\u2019s a policy that detractors say could severely hurt global economic trade<\/a>.<\/p>\n\n\n\n

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Apple continues to push financial services to its customers. The company will start offering 0% installment financing on iPhones<\/a> via the Apple Card<\/a> by the start of 2020. This move was hinted at by Apple CEO Tim Cook on a previous earnings call. Apple Card customers who take advantage of this offer will also be rewarded with 3% Daily Cash on select purchases.<\/p>\n\n\n\n

David Solomon, the CEO of Goldman Sachs which partnered with Apple on its new financial product, highlighted the overwhelming success of the Apple Card<\/a>:<\/p>\n\n\n\n

\"Apple<\/figure><\/div>\n\n\n\n

\u201cIn three short years, we have raised $55 billion in deposits on the Marcus platform, generated $5 billion in loans, and built a new credit card platform and launched Apple Card,\u201d Solomon said on the call, adding that, \u201cwe\u2019ve been pleased to see a high level of consumer demand for the product. From an operational and risk perspective, we\u2019ve handled the inflows smoothly, and without comprising our credit underwriting standards.\u201d<\/em><\/p>\n\n\n\n

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When it comes to financial wellbeing, Germany and Austria take the cake. A recent survey by Swedish firm Intrum AB<\/a>, asked consumers across Europe about their ability to pay bills, financial literacy, savings, and other personal finance factors. While it was Germany and Austria who took the top spots of this financial wellbeing survey, Greece and Lithuania ranked the lowest of all European nations surveyed.<\/p>\n\n\n\n

\"EU<\/figure><\/div>\n\n\n\n

Some of the survey\u2019s key findings include<\/a>:<\/p>\n\n\n\n