first day in your newjob. let s get some of the day s other news. london s heathrow airport will charge departing passengers an extra 8.90 pounds that s $12.40 in an effort to claw back costs as the coronavirus crisis depresses air travel. the tariff is permitted by the uk s aviation regulator under a protocol that allows the hub to cover costs for utilities, baggage and check in services. china s factory activity expanded at the slowest pace in nine months in february as weak overseas demand and coronavirus flare ups weighed on output. february also saw the lunar new year holidays, when many workers return to their hometowns, although this year saw far fewer trips amid coronavirus fears. chinese investment in australia has collapsed, falling 61% in 2020, according to new data from researchers at the australian national university. let s go to sharanjit leyl who is following the story from our asia business hub.
companies will get more access to chinese consumers. but president biden is unlikely to rollback restrictions on chinese tech firms like huawei. china is now seen as a direct competitor to the us in key technologies that will shape the economy of the future. so don t expect any compromises on chinese tech unless we get some concessions on intellectual property theft, transparency and firm commitments from chinese companies that they are not collect data for the chinese communist party. beijing knows its relationship with the us has changed, which is why china is focusing on its domestic economy. that is a policy known as dual circulation. china came out of the pandemic better than most countries. it is on course to be the only major economy to have grown last year. the china that biden will deal with is bigger, bolder, and stronger than ever before. one of these
it made headlines and move markets but the much bigger problem with theft. i spoke to former microsoft president and motorola ceo above others who explain the cost of that fact. 90% of companies are using the microsoft operating platform and only 1% pay for it. without any pressure from the u.s. government, talking about $10 billion plus for example that would go into profit. you want to compete in china, you have to usually turn over your intellectual property to a local alliance. quite frankly, i made the decision about eight years ago to essentially get out of china. and motorola s case, data was said to be stolen and transferred directly to the chairman of huawei technologies, one of the biggest offenders of intellectual property theft. the chinese leadership all the while refuse to admit to any theft at all.
mass protests over racial inequality. this year, the curtain was pulled back on deep rooted social and economic conflicts in almost every part of the world. many are asking questions about whether our current economic system still works. we have seen covid-19 expose the ill effects of privatisation in public health. in public education. covid 19 gave us in public education. covid 19 gave us a in public education. covid 19 gave us a remarkable opportunity to rethink this process of degeneracy, as i see a. is it time to that capitalism ? let s a. is it time to that capitalism? let s rewind a bit. the last time economies came to a grinding halt was nearly a hundred years ago during the great depression. but after the second world war ended, a new world order was created. since then, global trade has exploded stop we have become more
interconnected as goods and services are made and consumed around the world. that has been positive in many ways, lifting millions out of poverty. but jobs have also shifted from rich countries to poorer ones and in many places, the income gap has widened. and there is another problem. the pursuit of economic growth and corporate profits has come at a cost to the environment. shrinking our natural resources, causing pollution, climate change and creating huge amounts of waste. now, we have been here before, remember occupy wall street? we are the 99%! when demonstrators called for change in the financial institutions and systems, many say nothing has changed since then. but this time, it is different. the coronavirus has not only shocked the global economy, it is also given us a chance to pause and think. the voices for change are growing louder stop