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China threatens to create a blacklist of unreliable companies following Huawei veto

China threatens to create a blacklist of unreliable companies following Huawei veto

In the context of the US blockade of Huawei, the Chinese government has stated that it will establish a list of "unreliable" foreign companies, which could act to the detriment of the interests of domestic companies. it's a new measure that could further deteriorate relations between the two countries.

According to our source, Economy Minister Gao Feng has stated that China will establish a mechanism that will serve to draw up a list of foreign companies, organizations and individuals whose behavior ignores market regulations, disrupts the supply of materials for non-commercial reasons, or significantly harms the interests of Chinese companies.

Ink Drop shutterstock 1244119168
Companies that have cut off supplies to Huawei would be on the hypothetical list. / © Ink Drop / Shutterstock.com

In case you are not aware of the current situation: recently, the U.S. government decided to restrict Huawei's freedom to sell devices in the U.S., as well as to buy components from U.S. companies, thus harming one of the most successful Chinese companies today. The measure has deepened the rift between the two countries, which was already significant.

Now, the Chinese government's statements open up the possibility of targeting important players in the technology industry: more precisely companies such as Alphabet, Qualcomm and Intel, as well as non-US companies such as the Japanese manufacturer Toshiba. As a result of the news, the shares of Apple, Qualcomm and Intel have fallen more than one percent in pre-market trade.

Michelle Lam, an economist at Société Générale SA in Hong Kong, said: "Companies that have confirmed a cut in supplies for Huawei, such as Panasonic and Toshiba, will surely be on the list." In addition, he assures that the measure "could cause a lot of damage to the multinationals".

What do you think? You can tell us your opinion by writing a comment below.

Source: Bloomberg

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  • 1st - again more spam and it's not being removed!🤷🏼‍♀️

    2nd - to those arguing that androidpit has become political? Well, I agree but - a political situation is going to impact purchasing smartphones tablets electronic devices manufactured in China (and not for the better!)

    3rd - you have the power as consumers! not just the electronic products you buy, but how they should be manufactured (no more sweat shops, no more heavy pollution factories, etc).

    4th - China feels threatened and they are acting on it, what they could quickly end things by ceasing to steal intellectual property AND have better relations (if they continue to bully? their American based theme parks from Disney and Universal could be shut down!)🤷🏼‍♀️


  • storm 4 months ago Link to comment

    It's about standards so different companies products can interoperate. China is basically saying they will build their own standard set and if you want their product you use their standards everywhere.

    I don't see that going far in the developed nations. As other nations develop they might make that choice.

    This is much of the problem with One Plus. They refused to develop to standards like water proof or charging it or cosmetic USB C as a cost cutting measure and end up making a crippled product.