China 

Trump’s Huawei ban is a more severe threat to global economy than trade war tariffs, economists say

US President Donald Trump’s ban on Chinese telecoms giant Huawei Technologies, and its implications for 5G development, poses a more serious threat to the global economy than higher tariffs, according to economists.The US-China trade war – which has become white hot in recent weeks after simmering for months – is quickly evolving into a fight over which of the world’s two largest economies will control the future of technology and telecommunications.Last week, the Trump administration… Source link

Read More
Home 

Microsoft said to stop accepting new orders from Huawei as it moves to comply with US restrictions

Microsoft has followed Google and stopped accepting new orders from Huawei Technologies after the Chinese telecoms gear and smartphone maker was added to a US blacklist that prevents it from buying American technology, according to people familiar with the matter.The two major areas of business between Huawei and Microsoft – Windows operating systems for laptops and other content-related services – have both been suspended by the US company as it moves to comply with US government restrictions,… Source link

Read More
China 

Huawei boss defends US companies against rising Chinese nationalism

Huawei Technologies founder Ren Zhengfei has moved to quell a rising tide of nationalistic fervour in China against US firms, including Google and Intel, following last week’s blacklisting of the world’s No 2 smartphone maker by the Trump administration.Speaking to mainland media outlets on Tuesday, Ren cautioned Chinese media and consumers against equating buying decisions with patriotism and called for an end to criticism of US corporations.“Let’s speak out more in favour of US firms. If you… Source link

Read More
China 

Donald Trump’s trade war and Huawei ban push China to rethink economic ties with US

The decision by the United States to impose tariffs on all Chinese products and put smartphone maker Huawei on a trade blacklist that could choke off vital components has severely damaged the fragile trust between the two countries, forcing China to re-examine the entire bilateral economic relationship to protect itself, according to Chinese researchers.China is still open to resuming talks to end the trade war and refuses to believe that a “decoupling” of the world’s two largest economies is… Source link

Read More
China 

Steve Bannon says killing Huawei more important than trade deal with China

Driving Huawei out of the United States and Europe is “10 times more important” than a trade deal with China, according to former White House chief strategist Steve Bannon.He also said he would dedicate all his time to shutting Chinese companies out of US capital markets.The remark by Bannon, a strong advocate of an “all-encompassing war” against China, came days after US President Donald Trump signed an executive order effectively banning Huawei from the US market and cutting off its vital… Source link

Read More

Apple’s China woes may worsen as Huawei ban nudges die-hard iPhone fans to switch sides

Both sense and sensibility played a major role when diehard iPhone fan Wang Zhixin finally made the decision to become a first-time Huawei user after sticking with the US brand for almost a decade.“There is a calling from my heart that I need to show support for Chinese brands, especially in the trade war climate,” said the manager at one of China’s largest solar module manufacturers. When the time finally came to retire his three-year-old iPhone 7 earlier this month, Wang went with a Huawei… Source link

Read More
Home 

Huawei prepares for US ban by checking on suppliers and activating contingency plans

Huawei Technologies, the Chinese telecom equipment giant that has been restricted from using US technologies, is preparing for the break by checking on its suppliers and readying contingency plans.Huawei has been checking with its non-US suppliers to verify whether they are still able to work with the company under the ban, according to people familiar with the matter, who declined to be named as the information is private.Three companies from Huawei’s supply chain confirmed with the South… Source link

Read More
Home 

Rare earth, telecom stocks lift up China markets after Xi, Huawei boost

China stocks climbed on Tuesday, as rare earth and telecommunication stocks led the advance following a company visit by President Xi Jinping and upbeat remarks by Ren Zhengfei, the founder of Huawei Technologies.The Shanghai Composite Index rose 1.2 per cent to 2905.97. The Shenzhen Component Index climbed 1.9 per cent, and the ChiNext Index was up 1.7 per cent. The CSI 300 of large companies increased 1.4 per cent.In Hong Kong, the Hang Seng Index slipped 0.5 per cent to 27,657.24.Companies… Source link

Read More
Home 

Huawei founder Ren Zhengfei says clash with the US was “inevitable”

Huawei Technologies founder Ren Zhengfei said he foresaw the clash with the US government, saying it was a matter of time before the Chinese telecommunications equipment maker threatened US interests and attracted retaliation.“We sacrificed (the interests of) individuals and families for the sake of an ideal, to stand at the top of the world,” Ren Zhengfei, founder and CEO of Huawei, said in interview with Chinese state media on Tuesday. “For this ideal, there will be conflict with the United… Source link

Read More
Home 

China’s Xiaomi pushes global smartphone expansion as it monitors US trade ban on Huawei

A customer uses the first Mi Express Kiosk, a vending machine from China’s Xiaomi Corp, in Bangalore, India, on May 17, 2019. The Beijing-based company, which shipped 27.9 million smartphones in the first quarter, aims “to serve 70 per cent of the world’s population” as part of its expansion strategy. Photo: Xinhua Source link

Read More