Huawei founder Ren Zhengfei hopes for improved US-China relations

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Huawei founder Ren Zhengfei hopes for improved US-China relations

Huawei founder Ren Zhengfei hopes US-China relations will enhance beneath the Biden administration over the long-term.

“I hope the new US administration will come up with more open policies that are in the interests of US companies and the US economy as a whole,” Zhengfei stated throughout a current ceremony.

“Trade benefits both sides. Allowing US companies to supply goods to Chinese customers is conducive to their own financial performance. If Huawei’s production capacity expanded, that would mean US companies could sell more. It’s a win-win situation.”

However, Zhengfei went on to say he doesn’t count on a lot to alter over the short-term.

Huawei has typically been seen as caught within the crossfire amid political tensions between the 2 international locations and located itself among the many corporations added to the US Commerce Department’s Entity List. American corporations are banned from doing enterprise with any firm on the Entity List with out specific authorities permission.

“I think it’s very unlikely that the US will remove us from the Entity List. I won’t say it’s impossible, but it’s extremely unlikely,” Zhengfei stated.

As a results of being added to the entity listing, Huawei has been cut-off from entry to {hardware} like chipsets and even software program like Google’s Android. However, the corporate has defied the extra dire analysts and has continued to put up robust outcomes regardless of the numerous stress.

“I am even more confident about Huawei’s survival than I was because we have more ways to overcome those challenges,” Zhengfei commented. “Our sales revenue and profits in 2020 were higher than last year’s.”

Tough stance to proceed?

Last month, the New York Stock Exchange delisted China Mobile, China Unicom, and China Telecom as a part of an order designed to forestall transactions in securities “designed to provide investment exposure to such securities, of any Communist Chinese military company” by any particular person within the US.

The corporations have appealed the choice however it’s unlikely to be granted.

Biden’s administration is not going to need to be seen as weak on Beijing by giving concessions within the early days of his presidency. The new president’s decisions for prime diplomatic and financial posts point out his predecessor’s robust stance will proceed, albeit doubtless with much less of the heated and infrequently undiplomatic rhetoric witnessed beneath Trump’s presidency.

Neera Tanden, Biden’s nominee for funds director, lately instructed senators: “It is important that we marshal allies to put pressure on China to ensure that they have a fair trading system where American companies can truly compete against China.”

Tanden additionally instructed the committee she shared considerations about threats to US provide traces posed by Chinese merchandise, together with these from Huawei.

Zhengfei’s scepticism about a lot enchancment in US-China relations within the short-term is comprehensible. However, there’s a minimum of motive to be cautiously optimistic in regards to the warmth being dialled again and, maybe, within the mid-to-long-term, some progress may be made in lowering tensions between the 2 world powers.

Interested in listening to business leaders talk about topics like this? Attend the co-located 5G Expo, IoT Tech Expo, Blockchain Expo, AI & Big Data Expo, and Cyber Security & Cloud Expo World Series with upcoming occasions in Silicon Valley, London, and Amsterdam.

Tags: china, featured, huawei, ren zhengfei, usa

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