Japan calls for fight against protectionism as trade war fears bubble – business live | Business

Demand for mortgages and credit cards hit by Brexit

US accused of “technological McCarthyism” over Huawei probe

China’s Ministry of Finance has hit out at US authorites for launching a criminal probe into Huawei.

MOFa spokesperson Hua Chunying has told reporters that China is concerned by the “unusual handling” of the case by US prosecutors, suggesting it was driven by political considerations.

Hua added that if civil cases are used “arbitrarily to suppress Chinese enterprises then this is not only a violation of free and fair business competition but a violation rule of law.”

China’s media are also critical of the move, giving another insight into Beijing’s thinking.

Global Times wrote in an editorial today in response to the WSJ story and the proposal from US lawmakers to ban chip sales to Huawei that the ‘persecution of Huawei’ is a form of ‘technological McCarthyism”.

It says:

“America’s treatment of Huawei is full of geopolitical daggers… The US is angry because of China’s progress. If China wants to keep developing, China needs to bear these kinds of setbacks.”

“The US has prevented these companies from remaining separate from politics. The US has branded Huawei and ZTE as political, and this is a technological Mccarthyism.”

Huawei probe worries markest

WSJ: US authorities probing Huawei



Introduction: Japan urges fight against protectionism


Source link