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The Huawei 5G fight is at the centre of the US-China tech war. The Chinese company is one of the world’s largest telecommunications equipment and services providers. A Huawei ban was implemented in the US in May 2019.
Beijing has yet to address the policy distortions that have led to a decade-long growth slowdown, amplified by US decoupling measures. It needs to find a balance in allocating public investment and between accessing foreign technological expertise and developing domestic capacity.
Biden should undo Trump’s needlessly confrontational damage to the bilateral relationship – on condition that China takes equivalent steps back. The deep causes of US-China friction will remain but an easing of tension will give both governments space to re-engage.
Instead of starting another cold war or falling into a Thucydides Trap, the US – and China – should rise above the kind of great power rivalry that has led to bloodshed in the past and instead address the perilous state of global affairs.
Canada’s relations with the rest of the world usually defer to the interests of US foreign policy, but there are limits to what Canada is willing to endure. If talks on Meng fail, Canada should release her unilaterally.
With companies such as Ant, ByteDance, Huawei and Nio inspiring clones in the West, China is becoming an innovation epicentre. Rather than keep Chinese companies out, the West should make clear the areas of collaboration or protection.
While the US still holds considerable sway, Mideast nations would rather not pick sides, preferring to work with an array of partners. They are looking to build their own futures and cannot afford to wait for the US to decide how it will engage.
A recent survey finds general agreement in the US and among its allies on the perception of a China threat. But while sanctions are necessary, there’s also a lack of enthusiasm for comprehensive decoupling and a preference for a multilateral approach.
In addition to regulatory hurdles and, more recently, the pandemic, HSBC has been caught up in the US-China tussle. Rumours that the bank may be placed on China’s ‘unreliable entity list’ have done the bank’s stock and its many local investors no favours.
Since 2001, the US ‘war on terror’ has killed, injured and displaced millions across 24 countries, while America’s defence spending is nearly 40 per cent of the global total. In contrast, China has waged one foreign war in the past 50 years.