Stories
Slash Boxes
Comments

SoylentNews is people

ZTE Reportedly Expects at Least $3 Billion in Losses Due to US Ban

posted by janrinok on Wednesday May 23 2018, @09:50PM   Printer-friendly
from the ouch dept.

Arthur T Knackerbracket has found the following story:

Chinese telecom giant ZTE said its major operations had "ceased" following last month's US ban on American sales of critical technology to the company.

[...] The Shenzhen, China-based company has been spending an estimated 80 million to 100 million yuan in daily operational expenses, while most of its 75,000 employees sit idle, sources told the news outlet. ZTE had been working to get the denial order overturned and had pegged its hopes on broader bilateral trade talks between the US and China. Earlier this month, President Donald Trump sent a surprising tweet on ZTE that called for the Commerce Department to find "a way to get back into business, fast."

However, the House Appropriations Committee unanimously approved an amendment to a bill that would uphold sanctions against the company, delivering a sharp rebuke to Trump.

Original Submission

 
This discussion has been archived. No new comments can be posted.
ZTE Reportedly Expects at Least $3 Billion in Losses Due to US Ban | Log In/Create an Account | Top | 23 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2) by Spamalope on Thursday May 24 2018, @01:01AM (1 child)

    by Spamalope (5233) on Thursday May 24 2018, @01:01AM (#683342) Homepage

    There is surely an argument to be made that this is closing the barn door after the horses have gone.

    Nasa expertise is applicable to ICBMs. Giving someone who has some pointed at you a hand with rocket tech may not be the brightest thing. (I'm assuming that the espionage barrier is so low at Nasa that they get it anyway though)

    Starting Score:    1  point
    Karma-Bonus Modifier   +1  
    Total Score:   2  

  • (Score: 2) by c0lo on Thursday May 24 2018, @03:05AM

    by c0lo (156) Subscriber Badge on Thursday May 24 2018, @03:05AM (#683390) Journal

    Nasa expertise is applicable to ICBMs.

    So it's Russia's. And the knowledge/technology transfer from there predates the ban.
    Not to mention China had good-enough ICBMs for some time.

    --
    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford