The Chinese Beidou navigation network will be completed this month when its final satellite goes into orbit, giving China greater independence from US-owned GPS.
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China’s alternative to the US-owned GPS extended its coverage beyond the Asia-Pacific region with a goal of becoming a dominating technology in the future, spurring gains in shares of related companies.
China is taking its rivalry with the US to the heavens, spending at least $9-billion to build a celestial navigation system and cut its dependence on the American-owned GPS.