Global Marketing in light of the on-going Huawei scandal
Huawei Technologies Co., Ltd. is a Chinese multinational telecommunications equipment and consumer electronics company based in Shenzhen, Guangdong, South China. The company is now one of the largest in the world when it comes to the manufacturing of telecommunications equipment. Huawei has deployed its products and services in more than 170 countries, making it a truly global company.
Huawei Technologies Co. Chief Financial Officer Meng Wanzhou was arrested in Vancouver on Dec. 1 on the orders of U.S. authorities for allegedly violating American sanctions on selling technology to Iran.
The U.S. Department of Justice issued the warrant accusing Huawei of violating sanctions imposed by the U.S. Government on Iran allegations that Huawei used a shell company to access the Iran market in dealings that violate U.S. sanctions.
Meng assured U.S. banks that Huawei and the shell company alleged to have done business with Iran, called Skycom, were separate companies, but in fact Skycom and Huawei were one and the same. Her arrest was meant as a warning shot by the Trump administration in its campaign to limit the global spread of Chinese technology.
The US had been embroiled in a conflict with China, as the world's two largest economies wrangle for global influence.
China had accused the US of launching the "largest trade war in economic history."
Mr Trump had imposed taxes on imports from China, Mexico,Canada and the EU, to encourage consumers to buy Americanproducts. The US has imposed three rounds of tariffs on Chinese products this year, totalling $250bn worth of goods. Mr Trump says he wants to stop the "unfair transfers of American technology and intellectual property to China" and protect jobs.
The case has rattled markets and raised doubts about the U.S. being
able to reach a truce in its trade war with China. The tussle for power continues in international politics, and trade barriers through tariffs are proving to be a strong tool.
Kaneez Fatima48 Posts
An enthusiastic learner, Kaneez often finds herself wondering about the meaning of life, as well as about different realms of marketing. She is currently pursuing her PGPM from IBS Mumbai and gearing up for a successful career.
An enthusiastic part-time freelancer who enjoys programming. His Aim is to build conceptional and analytical products for a better tomorrow with sheer commitment towards becoming better every day and an eagerness to learn from people across different industries.