China to compile hit list of ‘unreliable’ foreign entities in trade war

China to compile hit list of ‘unreliable’ foreign entities in trade war

There is now no deal between China and U.S, and that means Huawei ordeal will subsist, and will have to to either dial back expectations or risk ending up with loads of unsold stock. Back in May, the company land in serious trouble when it was blacklisted as a potential threat to the US national cyber security which prompted the US President, Donald Trump to issue an immediately business ban on the company which had led to other US companies who partners with the giant Chinese brand to drop their business with Huawei.

"Talk and our door is open".

"Obviously it's mostly aimed at Huawei suppliers, Intel, Qualcomm, ARM ... if anything it's probably aimed at non-US companies, so European, South Korean and Japanese companies that may be trying to decide how strictly to apply the USA ruling", said Andrew Polk, an economist at Trivium China. "Fight, and we'll fight to the end", said Kang.

To date, Huawei has been banned from either selling its products or from rolling out its 5G network in a number of countries, including Australia, New Zealand, Japan, Taiwan, the U.S and U.K., Germany, France, according to data collected by database firm Statista.

The Financial Times reported Friday that tech giant Huawei has ordered its employees to cancel technical meetings with American contacts and has sent home numerous USA employees working at its Chinese headquarters.

The document is to be released at 10am, after which Chinese Vice Minister of Commerce Wang Shouwen (王受文) is to take questions from reporters.

The Ministry of Commerce said it would blacklist foreign companies or individuals that violated contracts or market rules or took "discriminatory measures" to hurt Chinese firms, the South China Morning Post reported.

Washington's tariffs appear to have already had an impact on Chinese manufacturing activity, which contracted more than expected last month.

He emphasised the trade war's effect on China's economy would be "controllable".

Depending on what the consequences will be for being placed on the list, the move could inch the global economy closer to bifurcation, with United States and Chinese companies being forced out of each other's home markets.

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