China's tech manipulation poses a global threat: UK spy chief

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 China's tech manipulation poses a global threat: UK spy chief
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Highlights

  • UK spy chief has recently claimed that China is manipulating technologies, which could pose a grave threat to global security.
  • The comments by the UK spy chief come as China is about to introduce its virtual currency, "Digital Yuan".

UK spy chief has recently claimed that China is manipulating technologies by using its scientific and financial resources, which could pose a grave threat to global security. The chief of the UK's GCHQ spy agency has raised allegations against China, saying that the country is abusing its tech supremacy.

The allegation pointed towards the Chinese leaders trying to use technologies like digital currencies and its Beidou satellite navigation network to strengthen its control over its citizens at home whilst expanding its power overseas. 

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Last year, Fleming claimed that the West was facing a serious struggle to guarantee that China did not take control over crucial promising technologies like AI, quantum computing, synthetic biology, and genetics. However, in response to these assertions, China has accused Britain of inciting these unsubstantiated beliefs against it.

The comments by the UK spy chief come as China is about to introduce its virtual currency, "Digital Yuan". This has grown concerns regarding increased surveillance and control over the lives of people. Technology can thus be viewed as a double-edged sword, for instance, surveillance can keep people safe and rob them of their privacy.

Amid these concerns, UK investors can keep an eye on the following tech stocks listed on the London Stock Exchange. 

Nanoco Group plc (LON: NANO)

The YTD (year to date) return of the UK tech firm focused on cadmium-free quantum dots, Nanoco Group plc, stands at 90.62% as of 14 October, while its annual return stands at 93.99%. NANO shares were trading at GBX 38.40 on Friday at around 1:50 PM (GMT+1), seeing a hike of 1.32%. With a turnover (on the book) of £20,889.03, the company's market cap at the time of writing stands at £122.20 million. The group has an EPS (earning per share) of -0.01 at present. 

Micro Focus International plc (LON: MCRO)

The YTD return of the UK-based globally functioning software and IT company, Micro Focus International plc, stands at 25.35% as of 14 October, while its annual return stands at 42.04%. MCRO shares were trading at GBX 518.60 on Friday at around 1:50 PM (GMT+1), seeing a hike of 0.08%. With a turnover (on the book) of £1,896,154.89, the FTSE250 company's market cap at the time of writing stands at £1,742.34 million. 

Network International Holdings plc (LON: NETW)

The YTD return of the IT service management firm offering payment solutions globally, Network International Holdings plc, stands at 5.41% as of 14 October, however, its annual return stands at -2.53%. NETW shares were trading at GBX 308.00 on Friday at around 1:55 PM (GMT+1), seeing a hike of 2.46%. With a turnover (on the book) of £509,679.95, the FTSE250 company's market cap at the time of writing stands at £1,675.35 million. The group has an EPS of 0.01 at present.

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