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takyon writes:

Huawei Arrest Tests China's Leaders as Fear and Anger Grip Elite

The arrest of one of China's leading tech executives by the Canadian police for extradition to the United States has unleashed a combustible torrent of outrage and alarm among affluent and influential Chinese, posing a delicate political test for President Xi Jinping and his grip on the loyalty of the nation's elite.

The outpouring of conflicting sentiments — some Chinese have demanded a boycott of American products while others have expressed anxiety about their investments in the United States — underscores the unusual, politically charged nature of the Trump administration's latest move to counter China's drive for technological superiority.

In a hearing on Friday in Vancouver, Canadian prosecutors said the executive, Meng Wanzhou of the Chinese telecom giant Huawei, faced accusations of participating in a scheme to trick financial institutions into making transactions that violated United States sanctions against Iran.

Unlike a new round of tariffs or more tough rhetoric from American officials, the detention of Ms. Meng, the company's chief financial officer, appears to have driven home the intensifying rivalry between the United States and China in a visceral way for the Chinese establishment — and may force Mr. Xi to adopt a tougher stance against Washington, analysts said. In part, that is because Ms. Meng, 46, is so embedded in that establishment herself.

Previously: Canada Arrests Huawei's Global Chief Financial Officer in Vancouver

Related: New Law Bans U.S. Government from Buying Equipment from Chinese Telecom Giants ZTE and Huawei
Australia Bans China's Huawei (and maybe ZTE) from 5G Mobile Network Project
Washington Asks Allies to Drop Huawei

Original Submission

1. "takyon" - https://soylentnews.org/~takyon/
2. "Huawei Arrest Tests China's Leaders as Fear and Anger Grip Elite" - https://www.nytimes.com/2018/12/07/world/asia/huawei-arrest-china.html
3. "a hearing on Friday in Vancouver" - https://www.nytimes.com/2018/12/07/technology/huawei-meng-wanzhou-fraud.html
4. "appears to have driven home the intensifying rivalry" - https://www.nytimes.com/2018/12/06/technology/huawei-arrest-meng-wanzhou.html
5. "Canada Arrests Huawei's Global Chief Financial Officer in Vancouver" - https://soylentnews.org/article.pl?sid=18/12/06/0214221
6. "New Law Bans U.S. Government from Buying Equipment from Chinese Telecom Giants ZTE and Huawei" - https://soylentnews.org/article.pl?sid=18/08/15/1921203
7. "Australia Bans China's Huawei (and maybe ZTE) from 5G Mobile Network Project" - https://soylentnews.org/article.pl?sid=18/08/28/0237250
8. "Washington Asks Allies to Drop Huawei" - https://soylentnews.org/article.pl?sid=18/11/25/0433238
9. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=30517

printed from SoylentNews, Arrest of Huawei Executive Causing Discontent Among Chinese Elites on 2024-04-19 13:20:22