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Meng Wanzhou, Huawei's CFO, was arrested in Canada at the request of the United States last weekend.
Meng was arrested for allegedly violating US sanctions against Iran, but we will hear only official statements of accusation during a hearing. (19659002) • China calls for the release of Huawei's director arrested in Canada at the request of the United States
China calls for the immediate release of Meng and a US businessman warned about a trip to China. It's a story that quickly gained new chapters and attracted the attention of many segments, Wall Street bankers to the people of Silicon Valley.
What should happen now? Here we have gathered all that has happened over the last few hours to keep you informed:
US officials warned of their trip to China
Photo Archive of Ren Zhengfei, CEO of Huawei, taking the Speech at a conference in St. Petersburg, Russia, June 22. Credit: AP
The leaders of the technology industry are warned of the trip to China. Some experts have speculated that the Chinese government could exert some kind of retaliation after Meng's arrest.
Meng Wanzhou, 46, a woman leader also named Sabrina and Cathy, is not only the financial director of Huawei. She is also the daughter of the company's founder, Ren Zhengfei, who has close ties with the People's Liberation Army – the Chinese Army.
Shaun Rein, of the China Market Research Group, said Friday Sydney Morning Herald : "If I were a Google or Cisco executive, I would not be going to China soon."
Bill Bishop, author of a newsletter devoted to the market (19659012) I saw speculation that China could retaliate (arrest Meng) by the United States and that it would be unfair for China to arrest an American executive, without totally excluding that possibility:
an arrest of a US technology industry leader. It would certainly be an explosion, but I am not sure that Beijing would do it without a very clear judicial process, as it would undermine the Party's extensive propaganda campaign by portraying China as an open-nation, foreign-owned nation. of world trade. However, if I were an American technology leader, I would leave for China later or I would go on vacation if I lived there …
This is a good thing, it is better that American businessmen wait if they want to stop
[Sydney Morning Herald e Sinocism]
This story could actually be related to bank fraud
HSBC branch in Hong Kong. Credit: AP
Why was Meng arrested? The reason given was that Huawei had violated the sanctions imposed by the United States on Iran as part of its trade relations with the country.
But it may be that the US authorities have another argument for prosecuting Meng. He could well be accused of bank fraud.
According to a report by Reuters :
The United States has been badyzing since at least 2016 whether Huawei had shipped products of US origin to Iran and other countries have violated US export laws and sanctions, as reported by Reuters in April.
More recently, this investigation began to examine whether the company would have used HSBC Holdings Plc to carry out illegal transactions involving Iran, according to the people involved.
Companies are prohibited from using the US financial system to transport goods and services to sanctioned entities. If manufacturers of smart phones and telecommunications equipment made such transactions and then incited HSBC to confuse its true origin, it could be accused of bank fraud, according to experts.
Huawei, who appointed President Liang Hua to the position of Chief Financial Officer. while Meng is being held, she must obey US sanctions if she wants to have a legal presence in the United States. And if they used US-based banks to violate such sanctions, that would be a serious problem.
[Reuters]
Japan should ban Huawei and ZTE from contracting with governments
Japanese Prime Minister on the right) laughed with US President Donald Trump on November 30, 2018 in Buenos Aires, Argentina. Apparently, Japan will ban the purchase of technology Huawei and ZTE (two Chinese companies) in contracts with the government, an initiative also considered by other countries aligned with the United States, such as New Zealand. A CNBC quoting the Japanese newspaper Yomiuri states that the rules applicable to new contracts may be changed by Japan as early as Monday (10) next week.
In Japan, anonymous sources report security concerns, the same argument as other countries, such as Australia, the United Kingdom, and Canada.
Concerns are about Huawei's close ties. and ZTE with the Chinese government and fears that Chinese electronics will be used to spy not only Japanese citizens, but also Japanese officials.
[CNBC]
Did President Trump know that this arrest would occur? 19659030] On December 1, 2018, Chinese President Xi Jinping met with President Donald Trump on the same day as Meng's arrest. Canadian Prime Minister Justin Trudeau said his government had not participated in the arrest of Meng, but that he had been informed several days earlier. But what did President Trump know about this arrest when he went to dinner with Chinese President Xi Jinping this weekend? Apparently, he did not know much.
Trump had no idea that Huawei's executive would be arrested. This is at least what the US National Security Adviser, John Bolton, hinted on Thursday [6] to NPR .
From NPR :
] [NPR]: The president knew in advance that this prison would take place?
[John Bolton]: I do not know the answer to this question. I knew it in advance, but it's something we get from the Department of Justice, and that sort of thing happens quite frequently. Of course, we do not inform the president of each one of them.
OK. So you knew at this weekend dinner with the Chinese president that this prison was in progress?
Well, you know, many things are waiting at some point. You do not know exactly what will happen for a particular police action, it depends on many other circumstances.
Trump has not yet specifically tweeted about the Huawei case, but it's rather surprising that we have a situation where the president did not have a good idea of what was happening – an international incident that is expected to leave traces for some time and which has major implications for the US stock market and for the US technology sector in general.
Instead, Trump seems to the contrary. be very interested in the investigation of Robert Mueller, according to his latest tweets. More recently, he has just published that "conversations with China are going very well".
[National Public Radio]
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