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Huawei executive's arrest in Canada enrages China

Huawei executive's arrest in Canada enrages China

Huawei Chief Financial Officer Meng Wanzhou was arrested before catching a connecting flight through Vancouver International on Saturday. She is the chief financial officer of Huawei Technologies, a huge telecommunications company.

Meng, the daughter of Huawei's founder, faces possible extradition to the U.S. It's not an isolated incident, but rather the latest chapter in a long history of tension between China's smartphone and telecommunications giant and the US government and businesses.

A person who knew about the incident told Reuters the arrest is linked to reported violations of American restrictions on Iran by Huawei.

Canada's Justice Ministry has released few details, citing a publication ban called for by Meng.

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

Lu Xiang, an expert on China-U.S. relations at the state-backed Chinese Academy of Social Sciences, said the arrest of Meng is "extremely shocking".

Meanwhile, the Stoxx 600 index, which includes Europe's biggest stocks, closed down 3.3 percent.

"We have made solemn representations to Canada and the United States, demanding that both parties immediately clarify the reasons for the detention and immediately release the detainee to protect the person's legal rights", Chinese Ministry of Foreign Affairs spokesman Geng Shuang (耿爽) told a regular press briefing in Beijing.

Beijing has itself frequently been accused by rights groups of rights abuses including unexplained detentions.

Apple's App Store revenue expected to top US$46B in 2018
It's a restriction that Apple has been enforcing for over a year, so it's unlikely the developers didn't know about it. According to some reports, an average person in India receives up to ten unwanted calls and messages in a day.

Huawei is one of the largest tech companies in the world, but it has been under pressure in nations like the USA, U.K., and Australia for allegedly doing the bidding of the Chinese government. Early in April, Reuters had reported that since at least 2016, the USA attorney's office in Brooklyn has been probing Huawei's alleged shipping of US -origin products to Iran and other countries in violation of USA export and sanctions laws. However, the company has been plagued with problems in the U.S. where lawmakers and intelligence officials have labeled the Chinese firm a threat to national security because of its close connections with Beijing, arguing that the company's technology could be used to spy on Americans.

Reacting to the arrest, US Senator Ben Sasse told Associated Press that China was aggressively engaged in undermining US national security interests, often "using private sector entities".

However a 90-day truce on the tit-for-tat trade war between the two superpowers promised to provide markets with some short term stability.

USA authorities have been probing Huawei, one of the world's largest makers of telecommunications network equipment, since at least 2016 over allegations that it shipped US -derived tech products to Iran and other countries in violation of USA export and sanctions laws, sources told Reuters in April. China, which has spent the week thus far making conciliatory gestures to the U.S.in an attempt to bring the trade war to an end, is furious and is demanding Meng's release.

Huawei also declined to comment. Other, less wealthy nations are concerned less about spying and more about low prices, which play to Huawei's advantage.

Huawei, along with many other Chinese phone manufacturers and telecom equipment makers, is viewed with significant suspicion by the "Five Eyes" intelligence alliance, comprised of Australia, Canada, New Zealand, the United Kingdom, and the United States.

On Wednesday, British phone carrier BT said it was removing Huawei equipment from the core of its mobile phone networks.

In exchange, ZTE agreed to pay a hefty $1 billion fine and put an additional $400 million in escrow in case of future violations. ZTE, whose Hong Kong-listed shares were suspended in April because of the ban and only resumed trading in July, was also forced to replace its board. But American officials also worry more broadly about Chinese plans for state-led industry development they worry might erode U.S. industrial leadership.


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