Chinese Commerce ministry spokesman Gao Feng said Thursday that his government had lodged “solemn representations” with the US over its decision to bar the telecoms giant Huawei from purchasing US goods.
Feng said that China hoped the US will behave rationally and curb what he described as its “dangerous actions.” He added that Beijing would be assisting Chinese companies to mitigate future risks as Sino-US trade war escalations continue.
“What we are witnessing is a potential reconfiguration of global trade as it has stood since World War II,” Saxo Bank's head of equity strategy, Peter Garnry, wrote in a report entitled Are you ready for a cold war in tech?
In 2018, China reportedly imported some $300 billion of computer chips, exposing a veritable Achilles heel in the country's bid for technological marketplace dominance.
Huawei has essentially been besieged by the Trump administration, which last week cut off the company's supply of Google software, Qualcomm chips and, temporarily at least, it's access to the US market by adding it to a trade blacklist.
The company was granted a 90-day reprieve on Monday while the Chinese tech giant gets its house in order, and prevents disruption to mobile networks that use its technology in the US.
“It [Huawei] is a major national security threat, not just to the US but to the rest of the world. We are going to shut it down,” former chief strategist for the Trump campaign Steve Bannon told the South China Morning Post Wednesday.
This perception rings true with regard to Washington's defensive posture in the trade war so far, with an 'all or nothing' approach toRead More – Source