China's 5G development touches nerve in the US

Business | Andrew Wong Feb 18, 2019
Talks on trade between China and the US have yet to reach a consensus. The only consolation is that there is still a chance of agreement before the "deadline" of March 1, when Chinese representatives will meet their counterparts in Washington. Of course, another hope is that US President Trump implies that even if no agreement can be reached before March 1, as long as a short-term consensus can be reached, the deadline can be extended. Why do you think China has made more concessions? Most notable was that during the negotiations, the United States announced it would extradite Meng Wanzhou, Huawei's vice chairman who was arrested in Canada, and press our allies, asking them to ban Huawei from participating in the construction of 5G. China's 5G technology development is faster than any other country under the central government's subsidies. And that has touched America's nerve. But such rapid development of science and technology relies hugely on importing high-tech products, retail and even enterprises from the United States, Europe and other countries. By modifying or disassembling the product to develop our own technology and product, China's science and technology products are emerging in the international market. But the problem is that if the United States no longer exports its high-tech to China, can China develop its own technological products? If you think that China needs to rely on the United States or other Western countries to develop technology, it's underestimating China's capabilities. Andrew Wong is chairman and CEO of Anli Securities

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May 2019