China

It’s only 9 am in New York but Friday’s session has already featured a frantic flurry of trade-war-related headlines that have – at least in the market’s view – overshadowed Theresa May’s tearful announcement that she will be stepping down as PM.

Beijing repudiated President Trump’s Thursday claim about a ‘speedy’ trade deal, saying there were no plans for a Trump-Xi meeting. US stock futures pared gains on that headline. Also, US firms ratcheted up the pressure on Huawei, with Microsoft joining the contingent of chip and tech companies that is planning to cut ties with Huawei over Washington’s blacklisting.

And now, the South China Morning Post is reporting that China’s largest chipmaker is withdrawing its ADRs from the New York Stock Exchange, and will subsequently trade only in Hong Kong. The company said ‘low trading volumes’ and the ‘cost of maintaining the listing’ motivated its decision.

China’s biggest maker of semiconductors is to withdraw from the New York Stock Exchange as the increasingly ferocious trade war with the US spills over into the technology sector.

Semiconductor Manufacturing International Corp (SMIC) said on Friday evening it has notified NYSE of its intention to apply on June 3 to delist its so-called American depositary receipts from the bourse. In a filing to the Hong Kong stock exchange, where its shares are listed, SMIC cited low trading volumes of its ADRs and the costs of maintaining the listing and complying with reporting requirements and related laws.

The delisting is expected to happen after June 13, and trading of the chip maker’s US securities will shift to the over-the-counter market, the statement said.

The sudden move comes as Washington steps up efforts to cut off its technology from China, with trade negotiations between the world’s two largest economies still deadlocked.

Just a few days ago, Steve Bannon told the SCMP that he would like to see Chinese companies shut out from American capital markets. It appears Beijing is doing him one better.

Meanwhile, a growing number of sell-side strategists now see a protracted trade war as the ‘base-case’ scenario. The latest assessment from Rabobank concluded that it’s extremely unlikely that either side will offer an olive branch in the near future: “That ship has sailed.”

China is battening down the hatches for a “Long March” and doesn’t even want to talk to the US. In fact, Xi and Trump might not even meet at the end of June in Osaka, in which case there is no obvious off-ramp.

Hovering in the background is Steve Bannon’s ‘superhawkishness’. President Trump has already accomplished something incredible: He’s united a disparate group of business leaders and politicians from both parties behind his hard-line approach. This might give him the cover he needs to ignore the market, at least until things start getting really bad.

In the meantime, expect more Chinese companies will demonstrate their ‘independence’ from American markets.

A Canadian court has tried to stop Alex Jones from focusing on a trans child case which has quickly turned into a free speech battle.

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The US has repeatedly accused the Chinese tech giant of installing backdoors in its equipment to enable Beijing’s global espionage and cyberattacks, something that Huawei vehemently denies.

In addition to banning its equipment on American soil, the US started pushing Asian and European states into refusing to use Huawei’s 5G technologies.

In an interview with CNBC, US Secretary of State Mike Pompeo has reiterated earlier Washington claims that China poses a real threat to American national security and expressed the opinion that due to this more and more US companies will cut ties with Chinese tech giant Huawei.

He added that the State Department has been working to make that happen.

Huawei is being used by China to spy on America even prompting the Pentagon to remove all products that the military may be using.

Pompeo also dismissed as “false” Huawei’s previous assurances that it doesn’t cooperate with Chinese government to install backdoors in its equipment and accused the company’s CEO Ren Zhengfei of lying to the “American people” and the world. The secretary of state argued that Huawei is allegedly required by Chinese law to cooperate with the government.

“The company is deeply tied not only to China but to the Chinese Communist Party. And that connectivity, the existence of those connections puts American information that crosses those networks at risk”, Pompeo said.

Washington earlier banned Huawei network equipment from the US, citing concerns that the company had installed backdoors on it to spy on US citizens. The White House also banned the company and around 70 other Chinese firms from obtaining US technologies. Huawei has repeatedly denied spying on its users for the government and even offered to sign no-spy agreements with foreign governments.

(Photo by Gage Skidmore / Wiki)

The move by US government led to Google ceasing Android support for all future Huawei devices and denying them access to its services, such as Gmail or YouTube. American chip producers, such as Intel and Qualcomm, also reportedly ceased ties with Chinese tech giant.

Apart from that, the US has exercised pressure on its European allies to avoid using Huawei equipment in 5G networks, threatening to “reassess” its intelligence-sharing policy otherwise. A media report also suggested that US State Department had pressured South Korea into ditching LG’s equipment because it contained parts produced by Huawei.

Alex Jones breaks down how President Trump supports the arrest of a Huawei executive who was caught assisting in the implantation of spy chips in telecom devices as well as using 5G transmitters to mine data from Americans using their smartphone devices.

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Russia once again added to its growing gold reserves in April, buying another 15.55 tons of the yellow metal. According to a press release from the Central Bank of Russia, it now holds 2,183.46 tons of gold.

Russia has expanded its gold holdings by 71.53 tons through the first four months of 2019. Russian gold reserves increased 274.3 tons in 2018, marking the fourth consecutive year of plus-200 ton growth. Meanwhile, the Russians sold off nearly all of its US Treasury holdings. According to Bank of America analysts,  the amount of US dollars in Russian reserves fell from 46% to 22% in 2018.

In an appearance on RT, Peter Schiff said he thinks the Russians are preparing for an impending dollar crisis.

As Peter explained, the world has been on a dollar standard ever since the US led the world off the gold standard.

“That was fine when the dollar was backed by gold, but now the dollar is backed by nothing. So, if you’re backing your currency with a currency that’s backed by nothing, well, then your currency is backed by nothing.”

Peter said this wasn’t a problem when people perceived value in the dollar, but he thinks that’s going to change.

“I think the next recession when the Fed goes back to zero and when we launch QE4, I think the dollar’s role as a reserve currency is going to be questioned, and central banks need an alternative. And the only viable alternative to back up their own currency is real money, which is gold.”

Peter also talked about the fact that the US uses the dollar as a weapon.

“Other countries don’t like this, and to the extent that they can move away from the dollar, well then they kill two birds with one stone. And one way of doing that is to increase their gold reserves now while gold is still cheap. Because when the dollar really starts to tank, the price of gold is going to soar. Russia, right now, obviously wants to buy as much gold as it can while the price is still relatively cheap. That allows it to build up a bigger hoard of gold to replace the diminished value that the dollar is going to play as a reserve currency.”

(Photo by Andrzej Barabasz / Wikimedia Commons)

China has also been buying gold. Peter said this is one way for the Chinese to gain leverage in the trade war. They can strengthen the yuan by selling dollarsand buying gold.

“That would help increase the value of the yuan and that would help increase the purchasing power of their own citizens while really dealing a fatal blow to the dollar and the US economy at the same time.”

The RT anchor asked if it was really possible for other countries to actually ditch the US dollar. Peter said it’s not only possible, it’s inevitable.

“Ultimately, the US won’t have any leverage at all … This [the dollar as the reserve currency] was an exorbitant privilege that the US has enjoyed for decades, but it has abused that privilege dramatically, even more so recently with the sanctions. So, I think that privilege is going to be lost and with it will go the artificially high standard of living that came along with it in the United States.”

Alex Jones explains how MSM hid the real march of globalism until after Hillary lost the election.

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From a comfortable position thousands of miles away from the White House (he has reportedly been spending a lot of time in Europe lately), former White House Chief Strategist Steve Bannon has embraced a stance toward Beijing that’s somewhere to the right of John Bolton.

Bannon calls himself a China “superhawk”, which helps make President Trump’s tough stance look moderate by comparison, while pro-business negotiators like Steven Mnuchin look like sinophiles.

Bannon used two recent interviews with CNBC to explain his hostility toward Beijing.

His argument boils down to this: for too long, Washington has allowed Beijing to get away with its anticompetitive subsidies and market protections, while the MSS steals whatever technology isn’t deliberately handed over by American companies hoping to enter the world’s largest growth market. Instead of fighting back, Washington has sat idly by as American money and corporations helped transform the Chinese economy, giving the Chinese the tools to stand up to the US.

Steven Mosher joins Alex Jones to expose the tactics of communist China to infiltrate our technology infrastructure and deceive the masses in the west.

But now that Beijing is making serious strides toward achieving its goal of supplanting the US as the world’s top military and economic power, the White House can’t afford to be silent any longer, which is why Bannon believes Trump “won’t back down” during the trade war.

Expanding on this theme during an interview with the South China Morning Post, a Hong Kong-based newspaper whose owner has ties to the Communist Party, Bannon explained that driving Huawei out of Europe and the US is “10 times more important” than striking a trade deal.

“It is a massive national security issue to the West,” Bannon said, in a phone interview on Saturday with the South China Morning Post. “The executive order is 10 times more important than walking away from the trade deal. It [Huawei] is a major national security threat, not just to the US but to the rest of the world. We are going to shut it down.”

Despite being largely shut out of the US and a handful of other international markets, Huawei has made inroads in Europe, where governments have tentatively cleared domestic telecoms firms to use Huawei products in the construction of their 5G networks. The Trump Administration has warned that using Huawei parts could invite spying by Beijing, though Huawei has denied it would ever cooperate with the government against its customers and has promised to sign “no spying” pledges. Of course, Chinese law stipulates that Chinese companies must help the state when asked.

(Photo by flickr, pagedooley)

The interview took place earlier this week, shortly after President Trump announced a brief waiver that will keep Huawei off the Commerce Department’s “Entity List” for 90 days. Once the prohibition takes effect, however, the Chinese telecoms giant won’t be able to buy components from American firms. It also took place before reports that leaked late Tuesday claimed the administration was weighing whether to add more Chinese companies to the “Entities List.”

Going one step further, Bannon said his ultimate goal is to shut Chinese companies out of American capital markets, something that would horrify Wall Street and the investment bankers whom Bannon has accused of being moneymen for the Communist Party.

“The next move we make is to cut off all the IPOs, unwind all the pension funds and insurance companies in the US that provide capital to the Chinese Communist Party,” he said.

“We’ll see a big move on Wall Street to restrict access to capital markets to Chinese companies until [they agree to] this fundamental reform.”

Trump made a huge mistake last spring when he intervened to lift restrictions on ZTE.

“During the trade talks’ early stage, he [Trump] gave a waiver for ZTE, which I think was a mistake,” Bannon said.

The crux of Bannon’s argument is that by engaging Beijing in an all-out “economic war”, Washington might succeed in forcing the Communist Party leadership to make certain structural reforms. Bannon doubts this will be resolved quickly: “I don’t think it’s going to be resolved quickly. This is the beginning of a very long and tough process.”

But regardless of the outcome, Bannon believes the US – including its bankers and corporations – can no longer afford to coddle Beijing. “The pressure we will keep up will be relentless. We are not going to be quiet.”

Alex discusses how important it is to elect representatives that stand against globalism.

Source: InfoWars

From a comfortable position thousands of miles away from the White House (he has reportedly been spending a lot of time in Europe lately), former White House Chief Strategist Steve Bannon has embraced a stance toward Beijing that’s somewhere to the right of John Bolton.

Bannon calls himself a China “superhawk”, which helps make President Trump’s tough stance look moderate by comparison, while pro-business negotiators like Steven Mnuchin look like sinophiles.

Bannon used two recent interviews with CNBC to explain his hostility toward Beijing.

His argument boils down to this: for too long, Washington has allowed Beijing to get away with its anticompetitive subsidies and market protections, while the MSS steals whatever technology isn’t deliberately handed over by American companies hoping to enter the world’s largest growth market. Instead of fighting back, Washington has sat idly by as American money and corporations helped transform the Chinese economy, giving the Chinese the tools to stand up to the US.

Steven Mosher joins Alex Jones to expose the tactics of communist China to infiltrate our technology infrastructure and deceive the masses in the west.

But now that Beijing is making serious strides toward achieving its goal of supplanting the US as the world’s top military and economic power, the White House can’t afford to be silent any longer, which is why Bannon believes Trump “won’t back down” during the trade war.

Expanding on this theme during an interview with the South China Morning Post, a Hong Kong-based newspaper whose owner has ties to the Communist Party, Bannon explained that driving Huawei out of Europe and the US is “10 times more important” than striking a trade deal.

“It is a massive national security issue to the West,” Bannon said, in a phone interview on Saturday with the South China Morning Post. “The executive order is 10 times more important than walking away from the trade deal. It [Huawei] is a major national security threat, not just to the US but to the rest of the world. We are going to shut it down.”

Despite being largely shut out of the US and a handful of other international markets, Huawei has made inroads in Europe, where governments have tentatively cleared domestic telecoms firms to use Huawei products in the construction of their 5G networks. The Trump Administration has warned that using Huawei parts could invite spying by Beijing, though Huawei has denied it would ever cooperate with the government against its customers and has promised to sign “no spying” pledges. Of course, Chinese law stipulates that Chinese companies must help the state when asked.

(Photo by flickr, pagedooley)

The interview took place earlier this week, shortly after President Trump announced a brief waiver that will keep Huawei off the Commerce Department’s “Entity List” for 90 days. Once the prohibition takes effect, however, the Chinese telecoms giant won’t be able to buy components from American firms. It also took place before reports that leaked late Tuesday claimed the administration was weighing whether to add more Chinese companies to the “Entities List.”

Going one step further, Bannon said his ultimate goal is to shut Chinese companies out of American capital markets, something that would horrify Wall Street and the investment bankers whom Bannon has accused of being moneymen for the Communist Party.

“The next move we make is to cut off all the IPOs, unwind all the pension funds and insurance companies in the US that provide capital to the Chinese Communist Party,” he said.

“We’ll see a big move on Wall Street to restrict access to capital markets to Chinese companies until [they agree to] this fundamental reform.”

Trump made a huge mistake last spring when he intervened to lift restrictions on ZTE.

“During the trade talks’ early stage, he [Trump] gave a waiver for ZTE, which I think was a mistake,” Bannon said.

The crux of Bannon’s argument is that by engaging Beijing in an all-out “economic war”, Washington might succeed in forcing the Communist Party leadership to make certain structural reforms. Bannon doubts this will be resolved quickly: “I don’t think it’s going to be resolved quickly. This is the beginning of a very long and tough process.”

But regardless of the outcome, Bannon believes the US – including its bankers and corporations – can no longer afford to coddle Beijing. “The pressure we will keep up will be relentless. We are not going to be quiet.”

Alex discusses how important it is to elect representatives that stand against globalism.

Source: InfoWars

Earlier media reported that Google had suspended its business operations with Huawei, including the transfer of hardware, software and technical services, as well as the Chinese giant’s access to updates of its Android operating system.

Shenzhen-based telecom giant Huawei suggested last year that app makers develop software for a new Huawei app store outside China – a never-before-heard-of plan, according to documents viewed by Bloomberg News.

The Chinese company reportedly told potential partners that by the end of 2018 it would have 50 million Europeans using its own app store, rather than Google’s, and is said to have been involved in talks with European wireless carriers about spreading the new app store further.

Huawei has yet to comment on the story which comes shortly after reports that big-name US tech companies, including Intel, Qualcomm, Xilinx, and Broadcom, had cut off the supply of their software and gear to the Chinese giant in the wake of the US government adding it to a trade blacklist last week.

Alex Jones calls in from the road to break down how foreign governments use the left to destroy America.

In addition, Google is said to have severed its dealings with Huawei, suspending the supply of hardware and some software services except those publicly available via open source licensing.

Huawei phones, which run on Google’s Android operating system, are also expected to lose access to updates to some popular apps, but the existing devices will be safe from upcoming restrictions.

Commenting on the decision on Tuesday, Huawei’s vice-president said that the US move has become a challenge for the Chinese tech giant, Google, and the industry as a whole. The top official stressed that the company would do everything to mitigate the negative consequences of the US decision.

(Photo by Carlos Luna / Flickr)

Last week, the US Department of Commerce placed Huawei on a trade blacklist, barring the Chinese firm from acquiring technology or components from American firms without the US government’s consent. According to Reuters, shortly after, the restrictions were lifted under a temporary general license, which lasts until 19 August.

Separately, US President Donald Trump has directed the Commerce Department and other relevant US agencies to devise a plan to ban American companies from using telecommunications equipment made by foreign manufacturers that are “deemed to pose a national security risk.”

The developments around Huawei come amid the ongoing trade war between China and the United States. Over the past several months, Huawei has been hit with allegations that it’s been spying on behalf of the Chinese government and stealing commercial information.

The telecom giant has consistently dismissed the accusations, stressing that it is independent of the government and sees no reason for restrictions on developing its 5G networks in any country. The United States, New Zealand, and Australia have already barred Huawei from building its 5G mobile phone network in said countries, citing security concerns.

Modern society resembles the Biblical warning in which the government controls what you buy and what you say.

Source: InfoWars

Earlier media reported that Google had suspended its business operations with Huawei, including the transfer of hardware, software and technical services, as well as the Chinese giant’s access to updates of its Android operating system.

Shenzhen-based telecom giant Huawei suggested last year that app makers develop software for a new Huawei app store outside China – a never-before-heard-of plan, according to documents viewed by Bloomberg News.

The Chinese company reportedly told potential partners that by the end of 2018 it would have 50 million Europeans using its own app store, rather than Google’s, and is said to have been involved in talks with European wireless carriers about spreading the new app store further.

Huawei has yet to comment on the story which comes shortly after reports that big-name US tech companies, including Intel, Qualcomm, Xilinx, and Broadcom, had cut off the supply of their software and gear to the Chinese giant in the wake of the US government adding it to a trade blacklist last week.

Alex Jones calls in from the road to break down how foreign governments use the left to destroy America.

In addition, Google is said to have severed its dealings with Huawei, suspending the supply of hardware and some software services except those publicly available via open source licensing.

Huawei phones, which run on Google’s Android operating system, are also expected to lose access to updates to some popular apps, but the existing devices will be safe from upcoming restrictions.

Commenting on the decision on Tuesday, Huawei’s vice-president said that the US move has become a challenge for the Chinese tech giant, Google, and the industry as a whole. The top official stressed that the company would do everything to mitigate the negative consequences of the US decision.

(Photo by Carlos Luna / Flickr)

Last week, the US Department of Commerce placed Huawei on a trade blacklist, barring the Chinese firm from acquiring technology or components from American firms without the US government’s consent. According to Reuters, shortly after, the restrictions were lifted under a temporary general license, which lasts until 19 August.

Separately, US President Donald Trump has directed the Commerce Department and other relevant US agencies to devise a plan to ban American companies from using telecommunications equipment made by foreign manufacturers that are “deemed to pose a national security risk.”

The developments around Huawei come amid the ongoing trade war between China and the United States. Over the past several months, Huawei has been hit with allegations that it’s been spying on behalf of the Chinese government and stealing commercial information.

The telecom giant has consistently dismissed the accusations, stressing that it is independent of the government and sees no reason for restrictions on developing its 5G networks in any country. The United States, New Zealand, and Australia have already barred Huawei from building its 5G mobile phone network in said countries, citing security concerns.

Modern society resembles the Biblical warning in which the government controls what you buy and what you say.

Source: InfoWars

China sold off the highest level of US Treasurys in nearly 2-1/2 years in March. Meanwhile, there are renewed fears the Chinese could implement its “nuclear options” and sell off even more US debt in retaliation for US trade war tariffs.

China sold $20.45 billion in Treasuries in March. That was the biggest US debt dump by China since October 2016.

After a four-month pause, the big March sell-off resumes a trend of Chinese Treasury divestment we saw in 2018. China shed nearly $50 billion in US Treasurys last year and dumped American debt for five straight months through October 2019. The Chinese currently hold $1.121 in US debt. That’s the lowest level since May 2017.

Overall, foreign investors sold a net $12.53 billion in US government debt in March.

China remains the biggest US creditor. Even a pause in Chinese bond purchases could become problematic for the US as it dumps billions of dollars of Treasurys on the market in order to fund ballooning deficits. The US federal government ran an all-time record deficit of $234 billion in February.

Where is the outrage for the scores of American globalists siding with China?

Even as the Chinese are shedding US Treasurys, they are buying gold. China added gold to its reserves for the fifth straight month in April and appears to be accelerating its rate of purchases.

Bond yields pushed up two weeks ago after a weak 10-year Treasury auction indicated tepid demand for US paper. Rising interest rates mean the US government will have to pay more interest to finance its enormous $22 trillion debt.

This raises another question: could China aggressively dump US bonds to punish the US for raising tariffs in the trade war?

This so-called nuclear option would raise borrowing costs for the cash-strapped US government and likely tank the dollar. The Chinese can’t out-tariff Trump. The US imports far more products than the Chinese. In other words, there is a lot more stuff coming into the US from China than vice versa. But that $1.11 trillion in Treasury holdings does give the Chinese significant leverage.

An editor for the Global Times, a Chinese state-owned newspaper, verbalized this threat in a tweet last week, saying “Many Chinese scholars are discussing the possibility of dumping US Treasuries and how to do it specifically.”

Most analysts think this is bluster. While a major Chinese dump of US Treasurys would wreak havoc on the US economy, it would also create problems for China. A fire sale on Treasurys would cut into Chinese reserves and potentially destabilize the yuan.

Then again China wouldn’t have to sell everything to have a huge impact on US interest rates. Even dumping a relatively small percentage of its holdings would push rates up, and the debt-fueled US economy has very little tolerance for higher interest rates.

Alex Jones shares an exlusive interview with a bright young girl the establishment doesn’t want you to hear.

Source: InfoWars

China sold off the highest level of US Treasurys in nearly 2-1/2 years in March. Meanwhile, there are renewed fears the Chinese could implement its “nuclear options” and sell off even more US debt in retaliation for US trade war tariffs.

China sold $20.45 billion in Treasuries in March. That was the biggest US debt dump by China since October 2016.

After a four-month pause, the big March sell-off resumes a trend of Chinese Treasury divestment we saw in 2018. China shed nearly $50 billion in US Treasurys last year and dumped American debt for five straight months through October 2019. The Chinese currently hold $1.121 in US debt. That’s the lowest level since May 2017.

Overall, foreign investors sold a net $12.53 billion in US government debt in March.

China remains the biggest US creditor. Even a pause in Chinese bond purchases could become problematic for the US as it dumps billions of dollars of Treasurys on the market in order to fund ballooning deficits. The US federal government ran an all-time record deficit of $234 billion in February.

Where is the outrage for the scores of American globalists siding with China?

Even as the Chinese are shedding US Treasurys, they are buying gold. China added gold to its reserves for the fifth straight month in April and appears to be accelerating its rate of purchases.

Bond yields pushed up two weeks ago after a weak 10-year Treasury auction indicated tepid demand for US paper. Rising interest rates mean the US government will have to pay more interest to finance its enormous $22 trillion debt.

This raises another question: could China aggressively dump US bonds to punish the US for raising tariffs in the trade war?

This so-called nuclear option would raise borrowing costs for the cash-strapped US government and likely tank the dollar. The Chinese can’t out-tariff Trump. The US imports far more products than the Chinese. In other words, there is a lot more stuff coming into the US from China than vice versa. But that $1.11 trillion in Treasury holdings does give the Chinese significant leverage.

An editor for the Global Times, a Chinese state-owned newspaper, verbalized this threat in a tweet last week, saying “Many Chinese scholars are discussing the possibility of dumping US Treasuries and how to do it specifically.”

Most analysts think this is bluster. While a major Chinese dump of US Treasurys would wreak havoc on the US economy, it would also create problems for China. A fire sale on Treasurys would cut into Chinese reserves and potentially destabilize the yuan.

Then again China wouldn’t have to sell everything to have a huge impact on US interest rates. Even dumping a relatively small percentage of its holdings would push rates up, and the debt-fueled US economy has very little tolerance for higher interest rates.

Alex Jones shares an exlusive interview with a bright young girl the establishment doesn’t want you to hear.

Source: InfoWars

The Chinese telecom titan has been repeatedly accused by the US and its allies of stealing commercial data, as well as cooperating with the Chinese government in regards to allegedly handing over personal data – something that Huawei stated is wrong and has never been requested of them.

China has called out the US government’s decision to put telecom giant Huawei on a blacklist, voicing an intention to take the necessary protective measures, with the comments coming amid a new twist in the trade war between the world’s two biggest economies.

“China has emphasized many times that the concept of national security should not be abused, and that it should not be used as a tool for trade protectionism”, Gao Feng, spokesman at the Chinese Commerce Ministry, told reporters, adding that the Southeast Asian country “will take all the necessary measures to resolutely safeguard” Chinese firms’ “legitimate rights.”

The US Department of Commerce has placed Chinese tech maker Huawei, along with 70 affiliates, on a trade blacklist, with the move banning the Chinese firms from acquiring technology or components from American firms without the US government’s consent.

There was also a separate executive order signed by Trump that bans US firms from using telecom equipment made by companies “deemed to pose a national security risk.”

Steven Mosher joins Alex Jones to expose the tactics of communist China to infiltrate our technology infrastructure and deceive the masses in the west.

The US Commerce Department noted Wednesday that it has reasons to believe that “Huawei is engaged in activities” that go against American national security, with US intelligence having previously accused the company of installing “backdoor” access in its devices upon the Chinese government’s directives – a feature that would make it possible for them to spy on users, thereby putting their personal data in jeopardy. However, Beijing and Huawei have both denied that such a directive exists.

Earlier in the day, Commerce Secretary Wilbur Ross asserted that President Trump “is acting once again to protect US national security.”

“This Executive Order addresses the threat posed by foreign adversaries to the nation’s information and communications technology and services supply chain”, Ross said adding:

“Under President Trump’s leadership, Americans will be able to trust that our data and infrastructure are secure.”

Huawei struck back, saying that it was “ready and willing to engage with the US government and come up with effective measures to ensure product security.”

The firm’s vice president for Western Europe noted on Tuesday that Huawei is a private company that is not controlled by the Chinese government and would refuse to hand over information to Beijing, adding that no request to this end has ever been made. Chairman of Huawei’s Board of Directors Liang Hua also stated that the company intends to sign so-called “no-spy” agreements with other governments, including that of the UK.

According to UK-based Huawei representative Nigel Jefferies, putting constraints on Huawei’s supply chain would not only directly affect the company itself and its ambitions to roll out, for instance, top-notch 5G technologies, but would also “limit the US to inferior yet more expensive alternatives, leaving the US lagging behind in 5G deployment and eventually harming the interests of US companies and consumers.”

China has meanwhile repeatedly voiced its indignation over Canada’s arrest of Huawei Chief Financial Officer Meng Wanzhou in December. Meng faces extradition to the United States on charges that she conspired to steal commercial information for a company operating in Iran, in breach of the US sanctions. Huawei has ascertained, however, that Meng has done nothing illegal.

The developments come against the backdrop of a few new twists in the Washington-Beijing trade spat, with the sides having recently engaged in a new round of tariffs on imported goods.

Alex discusses how important it is to elect representatives that stand against globalism.

Source: InfoWars


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