☰
HomeLiving Beyond BordersGZERO WorldSignalIn 60 SecondsPuppet RegimeGZERO World PodcastContact UsAbout UsCareersPrivacy PolicyTerms

US-CHINA: AN ARRESTING DEVELOPMENT

December 07, 2018
Willis Sparks

Even as Trump and Xi were agreeing to temporarily freeze tariff increases last weekend, Canadian authorities arrested Meng Wanzhou, the chief financial officer of the Chinese telecoms giant Huawei, in connection with an ongoing US Justice Department investigation into the Chinese networking equipment giant.

Huawei is suspected of selling Iran telecommunications equipment that contained US components. Meng, who now faces extradition to the US, is also the daughter of the company's founder. Her arrest reflects a bigger trend in US-China relations under President Trump: even when there is progress on one front, there's often a new flashpoint on another.

Some background: Earlier this year, the US banned American suppliers from selling equipment to Huawei's smaller rival, ZTE, over that company's alleged violations of Iran sanctions. The move almost forced ZTE into bankruptcy before President Trump offered the company an eleventh-hour reprieve.

But Huawei is a much bigger company than ZTE, and it's much more important for China's long-term tech innovation ambitions. That's why the Chinese press erupted with fury at news of Meng's arrest. As Beijing prepares to send trade negotiators to the US next week to begin work on trade and tariffs, it appears Trump will now have a big new bargaining chip as he looks for new concessions. Or it could create a whole new mess. Yesterday, the Chinese government demanded Meng's release.

More from GZERO Media

IMF and World Bank close annual meetings with urgent call for fragile economies

IMF Managing Director Kristalina Georgieva speaks to the media during an International Monetary and Financial Committee press briefing on Friday, Oct. 25, 2024.
Graeme Sloan/Sipa USA via Reuters

At the plenary session concluding the International Monetary Fund and World Bank’s 2024 Annual Meetings in Washington, DC, on Friday, IMF Managing Director Kristalina Georgieva made clear there was no time to rest. Although wealthy countries seem likely to achieve the much-vaunted “soft landing” — reducing inflation without a recession — geopolitical, climactic, and fiscal risks are putting great strain on the world’s most vulnerable economies.

Trump takes NYC, Harris hits Philly in star-powered final push

Supporters attend a rally for Republican presidential nominee and former President Donald Trump at Madison Square Garden, in New York, U.S., on Oct. 27, 2024.

REUTERS/Brendan McDermid

With the US election just nine days away, it’s crunch time for the presidential campaigns. Republican candidate Donald Trump headlined a rally Sunday night at Madison Square Garden in New York, a state that last backed a Republican in 1984. Vice President Kamala Harris, meanwhile, was in Pennsylvania, visiting a barbershop and a Puerto Rican restaurant

Japan’s ruling coalition loses majority

Japanese Prime Minister Shigeru Ishiba is pictured during a media interview at the headquarters of his ruling Liberal Democratic Party in Tokyo on Oct. 27, 2024.

Kyodo via Reuters Connect

Japan’s Liberal Democratic Party and coalition partner Komeito lost their parliamentary majority on Sunday in an election dominated by economic and ethical issues.

Is the Georgian Dream the West’s nightmare?

Supporters of the Georgian Dream party wave Georgian and party flags from cars after the announcement of poll results in parliamentary elections, in Tbilisi, Georgia, on Oct. 26, 2024.
REUTERS/Zurab Javakhadze

Opposition parties in the country of Georgia are accusing the incumbent Georgian Dream of stealing Saturday’s election, calling the results “falsified” and a “constitutional coup.”

The biodiversity-shaped piece in the climate crisis puzzle: How to solve it

Mastercard

The clock is ticking on efforts to help halt and reverse biodiversity loss, but there’s still time to help support the animals, plants, and ecosystems that are all necessary for a healthy planet. In order to protect biodiversity — every living organism and ecosystem from microbes to mangroves — citizens, companies, and countries all need to do their part. That’s why the Mastercard-led Priceless Planet Coalition is on a mission to restore 100 million trees and regenerate biodiversity-rich forests. Read more about the Coalition's approach and progress.

Hot topics at the IMF-World Bank meetings

- YouTube

youtu.be

Delegates at the IMF and World Bank Annual Meetings have been giving rosy outlooks to the press while the cameras are rolling, but GZERO Senior Writer Matthew Kendrick heard a different story in private settings. He told Tony Maciulis that the global outlook depends heavily on US policy continuity — which is highly unlikely under a second Trump administration — and successful efforts in China to revive its own floundering economy.

Can we achieve gender equality by 2030?

- YouTube

youtu.be

This week World Bank announced a bold initiative to bridge the gender divide by creating more economic opportunity, broadening female leadership, and reducing gender-based violence in the next 5 years as 2030 approaches.

Can the IMF change to help more women?

Matthew Kendrick

When a country hits rock bottom financially, the International Monetary Fund is meant to step in with funds to stabilize the economy without damaging its society — or the gender gap. But studies show that these programs often push women out of work at a disproportionate rate to men as the economy contracts. Matthew Kendrick reports from the World Bank-IMF Annual Meetings on a push to build more equitable programs.

About UsCareers PressContact Us Privacy PolicyTerms of Use
© 2020 GZERO Media. All Rights Reserved | A Eurasia Group media company.