‘The American companies’ moves are likely to escalate tensions between Washington and Beijing, elevating fears that President Donald Trump’s goal is to contain China, triggering a protracted cold war between the world’s biggest economies. In addition to a trade fight that has rattled global markets for months, the U.S. has pressured both allies and foes to avoid using Huawei for 5G networks that will form the backbone of the modern economy.“The extreme scenario of Huawei’s telecom network unit failing would set China back many years and might even be viewed as an act of war by China,” Koontz wrote. “Such a failure would have massive global telecom market implications.”’
Source : Trump Huawei Ban Ripples Across Industry as Supplies Halted – Bloomberg
