media report: If this sanction is really imposed on Huawei, which has a massive trading network, then from the perspective of US-China relations and the global financial chain, it would mean a substantial decoupling between the world's two largest economies, according to Global Times China. The global industrial chain would be restructured as a result, with both Chinese and American companies suffering. Photo Xinhua It seems that Huawei faces an endless list of tests, with the latest media report suggesting that the Trump administration may go further to place the Chinese technology giant on its Specially Designated Nationals SDN list, restraining its access to the US financial system. Financial sanctions on Huawei may only be a possibility at present, but the mere existence of such possibility is already bound to trigger more difficulties and challenges for the Chinese company, because other institutions may reduce or end doing business with it due to fear of being implicated. Unlike general economic sanctions that have a certain impact on trade, financial sanctions target the foundation of global trade - payments and settlements, which usually inflict devastating damage on a company or a country. Though Huawei may have foreseen the most serious sanctions coming its way and made relevant preparations, the impact will still inevitably be huge.
(news.financializer.com). As
reported in the news.
Tagged under media report, trump administration topics.