Friday, 14 December, 2018

Trudeau says government had no involvement in arrest of top Huawei executive

Asian markets tumble, China tech hit after Huawei arrest Canada arrests Huawei CFO, to extradite her to US
Laurie Berry | 07 December, 2018, 06:27

Image: Meng Wanzhou is a long-serving executive at Huawei.

An executive from the Chinese electronics giant Huawei Technologies faces extradition to the USA after getting arrested in Canada, further complicating U.S.

ZTE is China's second-largest telecommunications equipment maker and relies on USA components for its smart phones and networking equipment.

Global markets have plummeted - and Australian shares are expected to follow - after a fresh twist in the US-China trade war.

Huawei, one of the world's biggest suppliers of network gear used by phone and internet companies, has been the subject of deepening security concerns within the US government and the governments of countries like Australia and New Zealand.

On Thursday, the Canadian prime minister, Justin Trudeau, said Meng's arrest was not political.

The arrest of Meng Wanzhou, who is suspected of trying to evade USA trade curbs on Iran, could further complicate a trade standoff between Beijing and Washington.

The chief financial officer of Chinese tech giant, Huawei has been arrested in Canada after suspicions the company breached trade sanctions against Iran. A person familiar with the matter told Reuters she faces extradition on charges related to USA sanctions violations.

"I can assure everyone that we are a country of an independent judiciary and the appropriate authorities took the decisions in this case without any political involvement or interference", Trudeau said.

McLeod said a publication ban had been imposed in the case and he could not provide further details.

"The Chinese are likely to play tit-for-tat on this one and we should be ready for it", said Fen Hampson, the director of the global security program at the Centre for International Governance Innovation based in southern Ontario.

The Dow Jones Industrial Average fell almost 400 points Thursday morning, or 1.5 percent, extending the week's losses after a Chinese telecom executive was arrested in Canada on behalf of the US, stoking growing fears about trade tensions with China.

George W. Bush passes candy to Michelle Obama at his father’s funeral
Saudi Arabia's foreign minister Adel Al-Jubeir has expressed condolence over the demise of former USA president George H.W. Throughout the service, the former presidents looked at times mournful, while managing to find moments of levity as well.

On December 5, Canadian authorities confirmed that Meng Wanzhou, chief financial officer and deputy chair of Chinese telecoms giant Huawei as well as a daughter of Huawei's founder, was arrested in Vancouver, British Columbia on December 1 at the request of USA law enforcement authorities.

But China's government says that she hasn't broken any US or Canadian laws, and is demanding that Canada "immediately correct the mistake" and release her.

Meng is also the daughter of company founder Ren Zhengfei, a former Chinese People's Liberation Army engineer.

"No matter what happens in the short term, (the arrest of Huawei's CFO) is a symptom of a long-term technology clash", said Derek Scissors, a China specialist at the conservative American Enterprise Institute.

According to Canada's justice department, Meng has sought a publication ban in the case, but it said that the USA seeks her extradition, and a bail hearing has been slated for Friday. Meng was detained in Vancouver on Saturday, the day President Donald Trump met with his Chinese counterpart Xi Jinping in Argentina.

Canada's arrest of a Chinese telecommunications executive in Vancouver at the request of the United States sparked widespread surprise, but in security and diplomatic circles it was pure deja vu.

Huawei, which overtook Apple as the world's number two smartphone maker this year, said it was unaware of any wrongdoing by Meng and was provided "very little information" about the charges. "Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the United Nations, U.S. and European Union".

An editorial in the pro-government Global Times accused the USA of "maliciously finding fault" with Huawei. -Chinese cease-fire in a tariff war over Beijing's technology policy. "The potential slowdown in global growth is also something the markets are pricing in".

China urged Canada and the United States to "clarify" the reason for Meng's arrest and demanded her release. US authorities have not disclosed circumstances surrounding Meng's arrest, but a person familiar with the matter told Reuters the arrest relates to violations of USA trade sanctions. Huawei has rejected claims that it could use the infrastructure to spy on behalf of the Chinese government, and denies reports that it has violated sanctions regimes.

David Mulroney, a former Canadian ambassador to China, said US and Canadian business executives could face reprisals in China.

A foreign ministry spokeswoman, Hua Chunying, said then that China hoped the USA would refrain from taking actions that could further undermine investor confidence in the U.S. business environment and harm its domestic economy. It receives preferential treatment and is heavily subsidized by the Chinese government while purchasing technology from US companies like Qualcomm.

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