China could pay dearly for winning the 5G race

The U.S.Secretary of State is in Europe lobbying politicians to ditch Huawei network products.Beijing is spending$400 bln trying to gain an edge in the next-generation telecoms,benefitting local champions.But if exports get stymied,China could be stuck with a hefty bill.


-U.S.Secretary of State Mike Pompeo warned American allies in central Europe that deploying kit from Chinese telecoms-equipment maker Huawei would make it harder for Washington to"partner alongside them",Reuters reported on Feb.11.American authorities worry that the company's equipment might be used for intelligence-gathering.Huawei has repeatedly denied any involvement in espionage.

-Polish authorities in January arrested a Chinese employee of Huawei on spying charges.The United States is seeking to extradite Chief Financial Officer Meng Wangzhou,the daughter of Huawei's founder Ren Zhengfei,from Canada to face charges related to violations of U.S.sanctions on Iran.

-The Chinese tech firm plans to create a European logistics centre in Hungary,and has offered to construct a cyber security centre in Poland.

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