Why the Trump administration plans to boost funding for subsea cables

Most of the world’s internet traffic flows through underwater cables on the ocean floor. The wires are also responsible for some $10 trillion worth of financial transactions every day. And because those cables hold so much data and carry so much money, they’re also a potential security threat. That may explain why the U.S. and China are vying for control over the technology — and why the Trump administration is ramping up spending to replace cables in the Caribbean and Central America. Marketplace’s Meghan McCarty Carino spoke with Erin Murphy, the managing director for Asia at Redpoint Advisors, about why these cables play a key role in geopolitics. More on this:US is considering big boost to anti-China spending globally from The Associated PressRisk Beneath the Waves: Safeguarding Subsea Cables for a Secure Global Network from CSIS