Huawei CFO wanted by the United States for conspiring to defraud banks

Posted December 08, 2018

Officials from major U.S. companies who attended the event - a scheduled meeting of the local chapter of the USA department of state's Overseas Security Advisory Council (OSAC) - voiced their concerns about a Chinese reprisal, two people with knowledge of the meeting said.

"China has more incentive than the stop the escalation", said Yanmei Xie, an analyst at the Gavekal Dragonomics consultancy in Beijing.

USA prosecutors want a top executive of China's Huawei Technologies Co Ltd to face charges of fraud linked to the skirting of Iran sanctions, a Vancouver court heard on Friday.

The surprise arrest, already denounced by Beijing, raises doubts about whether the trade truce will hold and whether the world's two biggest economies can resolve the complicated issues that divide them.

"We hope that Japan can provide a fair competitive environment for Chinese companies operating in Japan, and avoid doing anything that harms mutual trust and cooperation", Geng said.

Ms Meng's arrest could potentially affect Canada's ambitions to deepen ties with China - a push to diversify trading links that comes as the U.S. continues to champion protectionist policies.

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He said that the daughter of Huawei founder Ren Zhengfei had substantial financial resources and was a flight risk.

The arrest has roiled global markets amid fears that it could further inflame the Sino-US trade row.

However, commenting on the negotiations between Donald Trump and Xi Jinping, the left-leaning American MSM referred to the seeming ambiguity of the US-Chinese agreement, saying that the Chinese were "puzzled and irritated" by Trump's bravado in Twitter following the talks.

Meng Wanzhou, Executive Board Director of the Chinese technology giant Huawei, attends a session of the VTB Capital Investment Forum "Russia Calling!" in Moscow, Russia, on October 2, 2014.

Executives at both companies - which have significantly invested in Huawei equipment - have compiled the financial costs of being prohibited from using the Chinese telecom's technology in 5G mobile networks.

The accusing the company of using subsidiary Skycom to do business with Iran, which would bypass sanctions.

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Meng, who takes her last name from her mother, received a master's degree from Huazhong University of Science and Technology in Wuhun, China, and started in a low-level position at Huawei in 1993 when she in her 20s. The prosecutor said she is accused of fraud.

The world's two largest economies are locked in a dispute over charges by Washington, echoed by USA industry groups and analysts, that China has deployed predatory tactics in its drive to overtake America's dominance in technology and global economic leadership.

U.S. lawmakers have repeatedly accused the company of being a threat to USA national security. "That was the case with other companies, and will continue to be the case".

China on Thursday demanded Canada release a Huawei Technologies executive who was arrested in a case that adds to technology tensions with Washington and threatens to complicate trade talks.

Some have noted that USA tech executives would be wise to avoid traveling to China over the next two weeks, out of concern that they might get caught up in the tug of war over Huawei. The company has said it complies with all applicable export control and sanctions laws and other regulations.

"The threat from these companies lies in their access to critical internet backbone infrastructure", she said.

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