Economy

China demands release of Huawei executive

China demands release of Huawei executive

Chinese telecoms giant Huawei Technologies Co Ltd's chief financial officer, Sabrina Meng Wanzhou, was arrested as part of a USA investigation into an alleged scheme to use the global banking system to evade United States sanctions against Iran, according to sources familiar with the situation.

But it has since emerged that on the day the leaders talked trade in Argentina, the chief financial officer and deputy chairman of Huawei was arrested in Canada at the request of the US.

The Chinese embassy in the Canadian capital Ottawa had also taken the floor and appealed to the US "to correct the misstep and restore Mrs. Meng Wanzhou's personal freedom".

Huawei is one of the largest tech companies in the world, but it has been under pressure in nations like the U.S., U.K., and Australia for allegedly doing the bidding of the Chinese government.

James Lewis, the director of technology policy at the Center for Strategic and International Studies, told Axios the US should be prepared for a backlash and warned American tech executives to steer clear of China for now. He also claimed that the incident "will seriously impact China and the US implementing consensus reached between two state leaders".

Huawei is one of the world's largest telecommunications equipment and service providers.

The British bank HSBC is cooperating with USA authorities in its investigation, people familiar with the matter said Thursday.

Canadian Prime Minister Justin Trudeau has defended the decision by Canadian authorities to execute a USA extradition request and detain a Huawei executive. The company says it abides by all laws and rules where it operates.

The shock arrest of Meng Wanzhou, 46, who is Huawei Technologies Co Ltd's chief financial officer, raises fresh doubts over a 90-day truce on trade struck between Presidents Donald Trump and Xi Jinping on Saturday - the day she was detained.

Confirming that China has lodged stern representations the United States and Canada, Geng demanded that Canada "immediately clarify the reasons for this detention, immediately release the detainee, and effectively protect the legitimate rights of the detainee".

More news: Nick Jonas and Priyanka Chopra’s First Wedding Photos Revealed

Under Trump and his predecessor, Barack Obama, Washington has pressured European countries and other allies to limit use of Huawei's technology. "Now we know that Huawei, like ZTE, has violated USA sanctions law".

"Without any solid evidence, the Canadian and United States governments trampled on worldwide law by basically "kidnapping" Chinese citizen Meng", an official with the Chinese Ministry of Commerce said in a Global Times op-ed. The company was banned in August from working on Australia's fifth-generation network.

Earlier this year, it barred United States companies from exporting to ZTE, effectively shutting down the firm.

Huawei, which overtook Apple Inc as the world's No. 2 smartphone maker this year, said it was unaware of any wrongdoing by Meng and was provided "very little information" about the charges.

"That's something we should be watching out for".

"We are closely watching the developments in Asia after reports that Canada has arrested the Huawei CFO facing USA extradition for allegedly violating Iran sanctions. It's a possibility. China plays rough", Mulroney told The Associated Press.

Some in the China business community think this arrest shows that the Trump administration has stopped treating China as a special case, and will now deal with Chinese companies as it deals with its own companies that break the law. Huawei is by far China's most global technology company, with operations spanning Africa, Europe and Asia.

The arrest comes at a delicate time in US-China relations.

The U.S. sees Huawei and smaller Chinese tech suppliers as possible fronts for espionage, and as commercial competition.

Both Huawei and ZTE have not only been barred from use by USA government agencies and contractors; they have also been mostly locked out of the American market.


  • Fortnite Season 7 Teaser Shows Planes And Ziplining

    Fortnite Season 7 Teaser Shows Planes And Ziplining

    Epic state that the mode is "new and exciting, but not final", though they aren't putting any kind of beta or alpha label on it. Many are speculating that season seven will be winter-themed, with most of the images featuring a winter aesthetic.
    Canada says it takes Trump's talk of NAFTA withdrawal seriously

    Canada says it takes Trump's talk of NAFTA withdrawal seriously

    The outcome is uncertain because of labor, agricultural, manufacturing and environmental concerns raised by a number of lawmakers. Trade Representative for all the hard work that went into this accord.
    Mark Hughes sacked as Southampton manager

    Mark Hughes sacked as Southampton manager

    Saints will have had four permanent managers in less than 18 months once Hughes' long-term replacement is in their post. The former goalkeeper will face the media on Monday afternoon, just hours after the club announced Hughes' exit.
  • Brexit: Government faces contempt of parliament vote over legal advice

    Brexit: Government faces contempt of parliament vote over legal advice

    If the motion is passed government ministers would be found in contempt of parliament and forced to publish the advice in full. Before the debate, May's government faces another showdown with lawmakers over legal advice about the Brexit deal.
    Oil Jumps After Saudi Arabia and Russia Agree to Extend Pact

    Oil Jumps After Saudi Arabia and Russia Agree to Extend Pact

    WTI was up 1.21 US dollars to settle at 51.63 dollars a barrel, while Brent rose 1.68 dollars to close at 60.48 dollars a barrel. Repeated fall in oil prices from past seven weeks has pushed the crude futures downward in a bear market.
    Priyanka Chopra And Nick Jonas Are Married!

    Priyanka Chopra And Nick Jonas Are Married!

    By the way, all the Jonas Bros - Frankie , Kevin and Joe were Nick's groomsman, as well as Priyanka's brother, Siddharth . Chopra also joked: " People will need vacations after this wedding ".
  • Markets dive after ‘Tariff Man’ threat by Donald Trump

    Markets dive after ‘Tariff Man’ threat by Donald Trump

    Beijing has yet to confirm Mr Trump's claim that China promised to cut auto tariffs and immediately buy more American farm goods. The two sides have a "clear timetable and road map" for talks, the ministry statement said, but gave no details.
    Colin Kaepernick's attorney weighs in on Redskins not working out his client

    Colin Kaepernick's attorney weighs in on Redskins not working out his client

    McCoy is scheduled to undergo further testing Tuesday, but he's expected to be out for the rest of the season, Gruden said. Gruden said the fear with Kaepernick is that the team would have to "teach a whole new offense with a lot of zone-reads".
    Cris Carter opens up on Urban Meyer's alarming health issues

    Cris Carter opens up on Urban Meyer's alarming health issues

    According to Rivals , Ohio State had the nation's No. 2 recruiting class in 2018, while UK's ranked 30th. Meyer brought an SEC style program to Ohio State and went 54-4 in the Big Ten in seven seasons.
  • Dick Cheney biopic 'Vice' tops Golden Globes nominations

    Dick Cheney biopic 'Vice' tops Golden Globes nominations

    If she takes home the trophy, she'll be the first singer to win Best Actress in a Drama , which is quite a feat. Then again, the HFPA also snubbed him for the first "Creed" as well (Stallone won that year for the film ).
    New trailer showcases the power of Captain Marvel

    New trailer showcases the power of Captain Marvel

    The movie, which stars actress Brie Larson , is set to hit theaters on March 8, 2019. "Your life began the day it almost ended". Just like in the first trailer , Carol has faint memories of her life on earth.
    Google May Be Shutting Down Hangouts For Consumers Sometime In 2020

    Google May Be Shutting Down Hangouts For Consumers Sometime In 2020

    Better, a lineage for the preservation of your existing Hangouts chat history/data would be implied by this reveal. Since 2012, when it killed the Google Talk, the company has tried a number of messaging apps.