Huawei, the tech giant at the center of the U.S.-China trade war, has been under suspicion for its ties to the Chinese government and concerns that its telecom equipment can be used to spy.
Back in 2012, the U.S. banned companies from using Huawei networking gear, and in May 2019 Huawei was blacklisted from U.S. communications networks along with being added to the U.S. Department of Commerce’s Bureau of Industry and Security Entity List. This follows an executive order from President Donald Trump.
Huawei CEO Ren Zhengfei sat down with Yahoo Finance’s Akiko Fujita in an exclusive interview from his company's headquarters in Shenzhen, China. He argued that the U.S. decision to shut out his company is actually a grave mistake that will backfire.
“The U.S. is abandoning 5G,” Ren said. “Even if they have supercomputers and super large-capacity connections, the U.S. might still fall behind because they don't have super-fast connections. All three of these things are indispensable. That’s the reason a new breaking point will appear. That will leave the U.S. behind. Shutting Huawei out today is the start of the U.S. falling behind.”
For more on this exclusive interview with Huawei CEO Ren Zhenfei click:
https://finance.yahoo.com/news/huawei-ceo-ren-zhengfei-full-interview-yahoo-finance-transcript-123000495.html
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