China Outraged At Arrest Of Huawei CFO
China Outraged At Arrest Of Huawei CFO, Warns It Will “Take All Measures”
So much for a trade war truce between China and the US, or a stock market Christmas rally for that matter.
Shortly after the news hit that Huawei CFO Wanzhou Meng — also deputy chairwoman and the daughter of Huawei’s founder — was arrested on December 1, or right around the time Trump and Xi were having dinner in Buenos Aires last Saturday, and faces extradition to the U.S. as a result of a DOJ investigation into whether the Chinese telecom giant sold gear to Iran despite sanctions on exports to the region, China immediately lodged a formal protest publishing a statement at its embassy in Canada, and demanding the U.S. and its neighbor “rectify wrongdoings” and free Meng, warning it would “closely follow the development of the issue” and will “take all measures” to protect the legitimate rights and interests of Chinese citizens.
As Bloomberg notes, the CFO’s arrest will be regarded back home as an attack on China’s foremost corporate champions. While Alibaba and Tencent dominate headlines thanks to flashy growth and high-profile billionaire founders, Ren’s company is by far China’s most global technology company, with operations spanning Africa, Europe and Asia.
Tensions between the Chinese telecom giant and U.S. authorities escalated in 2016, when the US voiced concerns for the first time that Huawei and others could install back doors in their equipment that would let them monitor users in the U.S. Huawei has denied those allegations. The Pentagon stopped offering Huawei’s devices on U.S. military bases citing security concerns. Best Buy Co., one of the largest electronics retailers in the U.S., also recently stopped selling Huawei products.Shlabotnik, Pastiche, gordyfl and 6 othersPeace Patriot, Bluesuedeshoes, iggy, mmonk, daleanime, jwirr like thisDisclaimer: You are free to reproduce, distribute, interpret, misinterpret, distort, garble, do what you like, even claim authorship, without my consent or the permission of anybody.
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