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Emily Chang meets Snap CEO Evan Spiegel in Los Angeles for a conversation about his entrepreneurial journey, building Snap and his latest consumer hardware bet.

Emily Chang meets Alexis Ohanian at Athlos NYC, an annual women's track and field event. They discuss his athletics portfolio, venture career and what really happened when he left Reddit.

Emily Chang meets Reese Witherspoon and the Hello Sunshine executive team to discuss the company's founding mission and what's next for Hollywood.

Emily Chang meets Disney Entertainment Co-Chair Dana Walden and a cast of Disney stars for an inside look at the entertainment giant's global streaming and TV operations.

Emily goes inside Stargate, an historic $500 billion bet on the future of AI. She speaks with OpenAI CEO Sam Altman & Softbank CEO Masayoshi Son about their hopes for the project.

Emily goes inside Stargate, an historic $500 billion bet on the future of AI. She speaks with OpenAI CEO Sam Altman & Softbank CEO Masayoshi Son about their hopes for the project.

Emily Chang speaks with Microsoft titans Bill Gates, Steve Ballmer and Satya Nadella about the company's journey from scrappy startup to global powerhouse.

Emily Chang speaks with Microsoft titans Bill Gates, Steve Ballmer and Satya Nadella about the company's journey from scrappy startup to global powerhouse.

Meghan, the Duchess of Sussex, opens up in a wide-ranging interview with Emily Chang about life beyond the royal spotlight and her latest ventures in business and entertainment.

Gold built South Africa, but mining kills some who dig for it. In Stilfontein, a disaster that trapped miners underground reveals how a quest for gold became a story of hunger, survival and death.

A police raid in a small town in the Philippines revealed a young mayor's alleged connections to a $2 billion Singapore money laundering scandal and Chinese espionage.

A police raid in a small town in the Philippines revealed a young mayor's alleged connections to a $2 billion Singapore money laundering scandal and Chinese espionage.

This is the story of how an Arizona woman's house became a gateway for North Korea's IT operatives - an underground "laptop farm" that infiltrated US companies and pumped millions to the regime.

This is the tale of Brazil's largest bank robbery. At the heart of this crime is South America's most dangerous mafia and a daring heist which took place on what's now known as the "Night of Terror".

Bloomberg Investigates takes viewers on an immersive journey to the heart of our most powerful reporting. Each investigation is recounted by award-winning journalists.

South Sudan relies on oil for almost all of its revenue. But some communities living near the oil fields allege polluted water is causing birth defects and miscarriages, raising questions over health and responsibility.

The Malaysian Anti-Corruption Commission is supposed to root out graft. Instead, some of its members have been accused of perpetuating the very wrongdoing they were meant to stop.

Ji Chaoqun was a promising young engineer from Beijing heading to the US to study. Then China's spy agency came calling with bags of cash, the promise of glory and an offer that would change his life forever.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Join Tom Keene, Paul Sweeney, Lisa Mateo, Michael Barr and other guests.

Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries.

Bloomberg Balance of Power focuses on politics and policies on Capitol Hill, in President Trump's administration, the federal agencies and the courts.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance by harnessing the power of Bloomberg Businessweek reporters and editors.

Scientists are developing powerful magnets to enable clean energy sources like fusion. But China's dominance of the supply chain for rare-earth magnets threatens their global availability.

We explore the world of biocomputing-where scientists are laying the foundation for a field that may blur the lines between the biological and synthetic.

Geothermal has been the underdog of the energy industry - but that may be about to change as new startups use fracking technologies to expand potential geothermal sites.

Scientists and entrepreneurs are testing radical ideas like solar radiation management and ocean fertilisation - and finding funding for it.

Flying cars have largely remained science fiction, until now. A new generation of electrified aircraft is attracting the attention of investors and venture capitalists around the world.

Governments and entrepreneurs are racing to commercialize the moon. These efforts could unlock a new, deep-space economy. But to return and stay will require the highest levels of innovation.

Emily Chang meets California's First Couple, Governor Gavin Newsom and Jennifer Siebel Newsom, visiting their home in Marin County and offices in Sacramento to see how they work together.

Emily Chang meets Snap CEO Evan Spiegel in Los Angeles for a conversation about his entrepreneurial journey, building Snap and his latest consumer hardware bet.

Emily Chang meets Alexis Ohanian at Athlos NYC, an annual women's track and field event. They discuss his athletics portfolio, venture career and what really happened when he left Reddit.

Emily Chang meets Reese Witherspoon and the Hello Sunshine executive team to discuss the company's founding mission and what's next for Hollywood.

Emily Chang meets Disney Entertainment Co-Chair Dana Walden and a cast of Disney stars for an inside look at the entertainment giant's global streaming and TV operations.

Emily goes inside Stargate, an historic $500 billion bet on the future of AI. She speaks with OpenAI CEO Sam Altman & Softbank CEO Masayoshi Son about their hopes for the project.

Emily goes inside Stargate, an historic $500 billion bet on the future of AI. She speaks with OpenAI CEO Sam Altman & Softbank CEO Masayoshi Son about their hopes for the project.

Liquid Death was founded on the idea of breaking the norms of traditional marketing. We speak to CMO Dan Murphy about the water company's origin as a "sheep in wolf's clothing."

We speak with Pranav Yadav, CEO of Neuro-Insight, about the marketing intelligence his company is gleaning from neuroscience.

Lisa McKnight, Mattel's chief brand officer, has been at the forefront of reviving the iconic Barbie. Now the famous toy brand has launched itself beyond store shelves and onto the silver screen.

McLaren Racing CEO Zak Brown discusses the technology, data and effort required to propel the McLaren brand onto the modern F1 stage and into living rooms around the globe.

Stephan Pretorious, chief technology officer of WPP, unpacks the world of generative artificial intelligence and its potential impact, both positive and negative, on marketing.

From immersive experiences to live streaming, National Women's Soccer League Chief Marketing and Commercial Officer Julie Haddon discusses the opportunities for growing women's professional sports.

From Pop Mart's Labubus to Shein, Temu and Luckin, Chinese brands have become global consumer favorites and cultural ambassadors. With much of the credit going to TikTok, shoppers are hungry for more.

A number of fatal car crashes involving Tesla vehicles has prompted increased scrutiny of its electric doors, triggering lawsuits over whether the design can leave passengers trapped.

The sinking of the Gulf Livestock 1 was the worst disaster in the history of the live-export trade, an industry made up of about 150 ships with a market value totaling $20 billion to $30 billion.

Francine visits Finland, where the threat from Russia looms large. She speaks to President Alexander Stubb about Finnish resilience and how his country is preparing for an uncertain future.

Francine Lacqua meets Ray Dalio on OceanX in the port of Nice for the UN Ocean Conference. They speak about radical transparency, building and leaving one of the largest hedge funds and what's next.

Francine Lacqua talks with Franklin Templeton CEO Jenny Johnson about how to steer a $1.6 trillion business amid the rise of AI, shifting politics and booming private markets.

Former UK Prime Minister Theresa May speaks with Francine Lacqua about Vladimir Putin, and her approach to leadership in a world seeing a rise in "strongmen."

Bloomberg's award-winning anchor sits down with the decision-makers shaping our future to explore the personal stories behind their public personas.

What drives the world's most influential minds? In Leaders with Francine Lacqua, we sit down with the decision-makers shaping our future to explore the personal stories behind their public personas.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Join Tom Keene, Paul Sweeney, Lisa Mateo, Michael Barr and other guests.

Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries.

Bloomberg Balance of Power focuses on politics and policies on Capitol Hill, in President Trump's administration, the federal agencies and the courts.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance by harnessing the power of Bloomberg Businessweek reporters and editors.

Jason Kelly follows Pierre Gasly from Alpine Headquarters to a Paris photo shoot to get a firsthand look at how the business of being an F1 driver goes far beyond the track.

Jason Kelly heads to Maranello, Italy, to speak with Ferrari's leadership about the coming regulatory changes for Formula 1 and how Ferrari's racing technology informs the road cars of today.

Miami Grand Prix Managing Partner Tom Garfinkel tackles the complexities of putting on the race, and F1 CEO Stefano Domenicali reveals why it's key to F1's future growth.

Williams Team Principal James Vowles and F1 Academy drivers' champion Abbi Pulling show how advanced simulation is shaping the future of Formula 1.

The Malaysian Anti-Corruption Commission is supposed to root out graft. Instead, some of its members have been accused of perpetuating the very wrongdoing they were meant to stop.

Ji Chaoqun was a promising young engineer from Beijing heading to the US to study. Then China's spy agency came calling with bags of cash, the promise of glory and an offer that would change his life forever.

Bloomberg Investigates takes viewers on an immersive journey to the heart of our most powerful reporting. Each investigation is recounted by award-winning journalists.

This is the story of how an Arizona woman's house became a gateway for North Korea's IT operatives - an underground "laptop farm" that infiltrated US companies and pumped millions to the regime.

A police raid in a small town in the Philippines revealed a young mayor's alleged connections to a $2 billion Singapore money laundering scandal and Chinese espionage.

A police raid in a small town in the Philippines revealed a young mayor's alleged connections to a $2 billion Singapore money laundering scandal and Chinese espionage.

A number of fatal car crashes involving Tesla vehicles has prompted increased scrutiny of its electric doors, triggering lawsuits over whether the design can leave passengers trapped.

Hannah Fry visits South Korea to explore how it became a cultural and tech superpower. She trains with a Taekwondo blackbelt, learns kimchi secrets from a grandmaster and dives into pro gaming.

Hannah Fry reveals why ancient Greece was the birthplace of so many big ideas. She decodes the Parthenon's geometry, sails the Aegean with ancient tools and is swept up in a riotous festival.

Hannah Fry journeys to Ireland, her ancestral homeland, tracing the impact of the nation's modern economic transformation and its connections to the land and sea.

Hannah Fry reveals how Iceland's geological extremes help shape its culture. She meets scientists predicting lava flows and harnessing geothermal power, and even rides along ancient Viking trails.

Hannah explores Vietnam. From the vibrancy of Ho Chi Minh City to a muddy prawn harvest in the Mekong Delta and the misty hilltops of Sapa, she reveals a nation embracing change.

Hannah Fry travels to Spain to decode its history and culture. She learns about the rhythms of flamenco, a mountain whistle language and the hidden symbolism in its urban planning.

The International Finance Corp., an arm of the World Bank, spends millions of dollars of taxpayer money to build up private-sector services in the developing world.

A number of fatal car crashes involving Tesla vehicles has prompted increased scrutiny of its electric doors, triggering lawsuits over whether the design can leave passengers trapped.

This is the story of how two alleged murder plots involving Sikh activists brought India, the US and Canada to a diplomatic crisis.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Join Tom Keene, Paul Sweeney, Lisa Mateo, Michael Barr and other guests.

Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries.

Bloomberg Balance of Power focuses on politics and policies on Capitol Hill, in President Trump's administration, the federal agencies and the courts.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance by harnessing the power of Bloomberg Businessweek reporters and editors.

Scientists are developing powerful magnets to enable clean energy sources like fusion. But China's dominance of the supply chain for rare-earth magnets threatens their global availability.

We explore the world of biocomputing-where scientists are laying the foundation for a field that may blur the lines between the biological and synthetic.

Geothermal has been the underdog of the energy industry - but that may be about to change as new startups use fracking technologies to expand potential geothermal sites.

Scientists and entrepreneurs are testing radical ideas like solar radiation management and ocean fertilisation - and finding funding for it.

Flying cars have largely remained science fiction, until now. A new generation of electrified aircraft is attracting the attention of investors and venture capitalists around the world.

Governments and entrepreneurs are racing to commercialize the moon. These efforts could unlock a new, deep-space economy. But to return and stay will require the highest levels of innovation.

Liquid Death was founded on the idea of breaking the norms of traditional marketing. We speak to CMO Dan Murphy about the water company's origin as a "sheep in wolf's clothing."

We speak with Pranav Yadav, CEO of Neuro-Insight, about the marketing intelligence his company is gleaning from neuroscience.

Lisa McKnight, Mattel's chief brand officer, has been at the forefront of reviving the iconic Barbie. Now the famous toy brand has launched itself beyond store shelves and onto the silver screen.

McLaren Racing CEO Zak Brown discusses the technology, data and effort required to propel the McLaren brand onto the modern F1 stage and into living rooms around the globe.

Stephan Pretorious, chief technology officer of WPP, unpacks the world of generative artificial intelligence and its potential impact, both positive and negative, on marketing.

From immersive experiences to live streaming, National Women's Soccer League Chief Marketing and Commercial Officer Julie Haddon discusses the opportunities for growing women's professional sports.

In this Bloomberg Originals documentary, we reveal how the unregulated substance is being promoted and even made more potent, and how some users are ending up dead.

The International Finance Corp., an arm of the World Bank, spends millions of dollars of taxpayer money to build up private-sector services in the developing world.

In one of the most earthquake-prone regions on Earth, where the Tibetan Plateau meets the Himalayas, China is building a colossal hydropower system, pushing engineering and geopolitics to the limit.

South Sudan relies on oil for almost all of its revenue. But some communities living near the oil fields allege polluted water is causing birth defects and miscarriages, raising questions over health and responsibility.

A number of fatal car crashes involving Tesla vehicles has prompted increased scrutiny of its electric doors, triggering lawsuits over whether the design can leave passengers trapped.

China and the US actively engage in cyber espionage for strategic advantage. Leaked files now suggest how rapidly Beijing is catching up in preparation for any future conflict.

The sinking of the Gulf Livestock 1 was the worst disaster in the history of the live-export trade, an industry made up of about 150 ships with a market value totaling $20 billion to $30 billion.

This is the story of how two alleged murder plots involving Sikh activists brought India, the US and Canada to a diplomatic crisis.

Gold built South Africa, but mining kills some who dig for it. In Stilfontein, a disaster that trapped miners underground reveals how a quest for gold became a story of hunger, survival and death.

A police raid in a small town in the Philippines revealed a young mayor's alleged connections to a $2 billion Singapore money laundering scandal and Chinese espionage.

A police raid in a small town in the Philippines revealed a young mayor's alleged connections to a $2 billion Singapore money laundering scandal and Chinese espionage.

Bloomberg Investigates takes viewers on an immersive journey to the heart of our most powerful reporting. Each investigation is recounted by award-winning journalists.

South Sudan relies on oil for almost all of its revenue. But some communities living near the oil fields allege polluted water is causing birth defects and miscarriages, raising questions over health and responsibility.

The Malaysian Anti-Corruption Commission is supposed to root out graft. Instead, some of its members have been accused of perpetuating the very wrongdoing they were meant to stop.

Ji Chaoqun was a promising young engineer from Beijing heading to the US to study. Then China’s spy agency came calling with bags of cash, the promise of glory and an offer that would change his life forever.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Join Tom Keene, Paul Sweeney, Lisa Mateo, Michael Barr and other guests.

Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries.

Bloomberg Balance of Power focuses on politics and policies on Capitol Hill, in President Trump's administration, the federal agencies and the courts.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance by harnessing the power of Bloomberg Businessweek reporters and editors.

Emily Chang meets California’s First Couple, Governor Gavin Newsom and Jennifer Siebel Newsom, visiting their home in Marin County and offices in Sacramento to see how they work together.

Emily Chang speaks with Microsoft titans Bill Gates, Steve Ballmer and Satya Nadella about the company's journey from scrappy startup to global powerhouse.

Emily Chang speaks with Microsoft titans Bill Gates, Steve Ballmer and Satya Nadella about the company's journey from scrappy startup to global powerhouse.

Emily Chang meets Snap CEO Evan Spiegel in Los Angeles for a conversation about his entrepreneurial journey, building Snap and his latest consumer hardware bet.

Emily Chang meets Alexis Ohanian at Athlos NYC, an annual women's track and field event. They discuss his athletics portfolio, venture career and what really happened when he left Reddit.

Emily goes inside Stargate, an historic $500 billion bet on the future of AI. She speaks with OpenAI CEO Sam Altman & Softbank CEO Masayoshi Son about their hopes for the project.

Emily goes inside Stargate, an historic $500 billion bet on the future of AI. She speaks with OpenAI CEO Sam Altman & Softbank CEO Masayoshi Son about their hopes for the project.

Emily Chang meets Reese Witherspoon and the Hello Sunshine executive team to discuss the company's founding mission and what's next for Hollywood.

Emily Chang meets Disney Entertainment Co-Chair Dana Walden and a cast of Disney stars for an inside look at the entertainment giant's global streaming and TV operations.

Four female climbers face the sporting challenge of a lifetime as they attempt to compete in the first ever Olympic climbing competition at Tokyo 2020.

China and the US actively engage in cyber espionage for strategic advantage. Leaked files now suggest how rapidly Beijing is catching up in preparation for any future conflict.

Protect. How can we be optimistic in 2025? As Nikolaj Coster-Waldau begins season two, we're reminded of the delicate balance between human progress and protecting our planet.

Waste is a significant contributor to global warming, but turning it into a resource can help curb emissions and shrink humanity's environmental footprint.

From transforming concrete into a carbon sink to mining nickel from genetically enhanced plants, we meet the bold inventors preserving and adapting to nature's offerings to help humanity thrive.

Meeting humanity's insatiable demand for energy while still curbing greenhouse emissions will require creative solutions both big and small.

Francine visits Finland, where the threat from Russia looms large. She speaks to President Alexander Stubb about Finnish resilience and how his country is preparing for an uncertain future.

Francine Lacqua meets Ray Dalio on OceanX in the port of Nice for the UN Ocean Conference. They speak about radical transparency, building and leaving one of the largest hedge funds and what's next.

Francine Lacqua talks with Franklin Templeton CEO Jenny Johnson about how to steer a $1.6 trillion business amid the rise of AI, shifting politics and booming private markets.

Former UK Prime Minister Theresa May speaks with Francine Lacqua about Vladimir Putin, and her approach to leadership in a world seeing a rise in "strongmen."

Bloomberg's award-winning anchor sits down with the decision-makers shaping our future to explore the personal stories behind their public personas.

What drives the world’s most influential minds? In Leaders with Francine Lacqua, we sit down with the decision-makers shaping our future to explore the personal stories behind their public personas.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Join Tom Keene, Paul Sweeney, Lisa Mateo, Michael Barr and other guests.

Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries.

Bloomberg Balance of Power focuses on politics and policies on Capitol Hill, in President Trump's administration, the federal agencies and the courts.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance by harnessing the power of Bloomberg Businessweek reporters and editors.

From Pop Mart's Labubus to Shein, Temu and Luckin, Chinese brands have become global consumer favorites and cultural ambassadors. With much of the credit going to TikTok, shoppers are hungry for more.

A number of fatal car crashes involving Tesla vehicles has prompted increased scrutiny of its electric doors, triggering lawsuits over whether the design can leave passengers trapped.

The International Finance Corp., an arm of the World Bank, spends millions of dollars of taxpayer money to build up private-sector services in the developing world.

South Sudan relies on oil for almost all of its revenue. But some communities living near the oil fields allege polluted water is causing birth defects and miscarriages, raising questions over health and responsibility.

This is the story of how two alleged murder plots involving Sikh activists brought India, the US and Canada to a diplomatic crisis.

China and the US actively engage in cyber espionage for strategic advantage. Leaked files now suggest how rapidly Beijing is catching up in preparation for any future conflict.

The sinking of the Gulf Livestock 1 was the worst disaster in the history of the live-export trade, an industry made up of about 150 ships with a market value totaling $20 billion to $30 billion.

IM Academy was a global phenomenon, claiming it could make anyone a top trader. Its founder, Chris Terry, a self-made trader turned multimillionaire who flaunted luxury cars, private jets and apartments across continents.

In one of the most earthquake-prone regions on Earth, where the Tibetan Plateau meets the Himalayas, China is building a colossal hydropower system, pushing engineering and geopolitics to the limit.

With a $4.6 trillion balance sheet, JPMorgan is more valuable than its three biggest rivals combined. And much of the bank’s success is arguably due to its long-time leader, Jamie Dimon.

Small towns are at the center of President Donald Trump's mass deportation campaign, spearheaded by ICE. In one rural New Mexico county, officials are grappling with what it means to be an ICE town.

An activist seeking to address the alleged abuses contends she has been targeted with litigation to keep her quiet, which the company denied.

Artificial intelligence has begun to exhibit early signs of agency. Are we on a path to superintelligence? Self destruction? Or is the potential promise and threat of AI being overblown?

Bioacoustics technology and AI are revealing how animals communicate, and may soon allow us to talk to them. What can we learn from wildlife, and should we be talking to the animals at all?

With the promise of unimaginable computing power, a global race for quantum supremacy is raging. Who will be first to harness this new technological force, and what will they do with it?

Water. Our survival depends on water, yet global reserves are rapidly shrinking. Can technology help secure humanity's future water needs?

For some, pain is excruciating and inescapable. But amid the continuing fallout of the opioid crisis, new technologies are being developed to limit and even eliminate pain.

Soon, another billion people will be online. How will these new users embrace this technology to transform their lives, and what will it mean for the rest of the world?

Hannah Fry visits South Korea to explore how it became a cultural and tech superpower. She trains with a Taekwondo blackbelt, learns kimchi secrets from a grandmaster and dives into pro gaming.

Hannah Fry reveals why ancient Greece was the birthplace of so many big ideas. She decodes the Parthenon's geometry, sails the Aegean with ancient tools and is swept up in a riotous festival.

Hannah Fry journeys to Ireland, her ancestral homeland, tracing the impact of the nation's modern economic transformation and its connections to the land and sea.

Hannah Fry reveals how Iceland's geological extremes help shape its culture. She meets scientists predicting lava flows and harnessing geothermal power, and even rides along ancient Viking trails.

Hannah explores Vietnam. From the vibrancy of Ho Chi Minh City to a muddy prawn harvest in the Mekong Delta and the misty hilltops of Sapa, she reveals a nation embracing change.

Hannah Fry travels to Spain to decode its history and culture. She learns about the rhythms of flamenco, a mountain whistle language and the hidden symbolism in its urban planning.

Francine visits Finland, where the threat from Russia looms large. She speaks to President Alexander Stubb about Finnish resilience and how his country is preparing for an uncertain future.

Francine Lacqua meets Ray Dalio on OceanX in the port of Nice for the UN Ocean Conference. They speak about radical transparency, building and leaving one of the largest hedge funds and what's next.

Francine Lacqua talks with Franklin Templeton CEO Jenny Johnson about how to steer a $1.6 trillion business amid the rise of AI, shifting politics and booming private markets.

Former UK Prime Minister Theresa May speaks with Francine Lacqua about Vladimir Putin, and her approach to leadership in a world seeing a rise in "strongmen."

Bloomberg's award-winning anchor sits down with the decision-makers shaping our future to explore the personal stories behind their public personas.

What drives the world’s most influential minds? In Leaders with Francine Lacqua, we sit down with the decision-makers shaping our future to explore the personal stories behind their public personas.

The International Finance Corp., an arm of the World Bank, spends millions of dollars of taxpayer money to build up private-sector services in the developing world.

South Sudan relies on oil for almost all of its revenue. But some communities living near the oil fields allege polluted water is causing birth defects and miscarriages, raising questions over health and responsibility.

This is the story of how two alleged murder plots involving Sikh activists brought India, the US and Canada to a diplomatic crisis.

Four female climbers face the sporting challenge of a lifetime as they attempt to compete in the first ever Olympic climbing competition at Tokyo 2020.

China and the US actively engage in cyber espionage for strategic advantage. Leaked files now suggest how rapidly Beijing is catching up in preparation for any future conflict.