The United States has ramped up its fight with China over technology by revealing charges against top telecoms company Huawei. The US Department of Justice alleges Huawei stole trade secrets from US-based companies and conspired to dodge US sanctions on Iran. Charges were also unsealed against the company's chief financial officer, Meng Wanzhou, who is under arrest in Canada and faces possible extradition to the United States.
What happens to Huawei and Meng will have huge implications for the world's top two economies, which are locked in an expanding clash over trade and technology. The dispute will shape ties between Beijing and Washington for years to come and could make or break China's aim to become a global technology power. Analysts say Huawei could suffer the same fate as its smaller rival ZTE (ZTCOF), which was crippled for months last year by a US ban on buying vital tech components from American companies.
What happens to Huawei and Meng will have huge implications for the world's top two economies, which are locked in an expanding clash over trade and technology. The dispute will shape ties between Beijing and Washington for years to come and could make or break China's aim to become a global technology power. Analysts say Huawei could suffer the same fate as its smaller rival ZTE (ZTCOF), which was crippled for months last year by a US ban on buying vital tech components from American companies.
