SW Sponsored Content Left 3 160x1200

SW Sponsored Content Right 3 160x1200

SW Sponsored Top Banner 3 705x108

Friday, 07 December 2018 07:24

Arrest of Huawei CFO a dangerous precedent and threat to global trade Featured

By

COMMENT: The arrest of the CFO of Huawei Technologies Meng Wanzhou in Canada for the alleged violation of the company trading with Iran in contravention of US sanctions on that country has heightened already shaky trade relations between China and the US. It also threatens relations between China and the wider West.

Meng Wanzhou is not just a high-profile senior executive of China’s and one of the world’s largest telecommunications equipment manufacturers.

She is the daughter of the company’s founder and a member of the inner elite circle in that country – akin to royalty.

China has expressed extreme displeasure at the detainment of Meng Wanzhou and demanded her immediate release.

The fact that the arrest took place in Canada at the behest of the US authorities and not on US soil also has implications for relations between China and US allies, particularly those in the five eyes group – Canada, UK, Australia and New Zealand.

On the trade front, analysts have been quick to point out the detrimental effect this latest development concerning Huawei and China could have on technology businesses throughout the world.

At the behest of the US, Huawei has already largely been excluded from participating in government 5G contracts in most of the five eyes countries. The giant Chinese telco has also had its handset business in the US severely curtailed with carriers AT&T and Verizon cutting off sales through their post-paid plans.

Huawei phones use components from US chip makers Broadcom, Qualcomm and Micron, as well as a number of optical component suppliers.

If Huawei is totally excluded from US markets, as a result of this latest development, the chances are extremely high that China will retaliate in kind, excluding major US tech companies from its markets. That could include finished product companies such as Apple and Cisco, as well as component suppliers.

Since news of the arrest came to light earlier this week, already shaky US markets have been in a tailspin. Wall Street has been down sharply over the past two days of trading, with the Dow losing more than 1200 points.

The market is watching nervously to see how this incident plays out. Whatever the outcome, however, relations between the world’s two largest economic powers may well have been irreparably damaged for the foreseeable future.


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Stan Beer

Stan Beer assists with Digital Advertising installation and monitoring of advert performance. With 35 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications. Any previous news story submissions should be director to editor@itwire.com and advertising enquires to andrew.matler@itwire.com

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments