Canada Arrests Huawei Executive; China Demands Her Immediate Release

Asian markets tumble, China tech hit after Huawei arrest

China on Thursday demanded that Canada release an executive of Chinese tech giant Huawei who was arrested in a case that compounds tensions with the us and threatens to complicate trade talks.

Chinese foreign-ministry spokesman Geng Shuang told reporters Thursday that his government wants Canadian officials to reveal their reasoning.

"The Chinese side firmly opposes and strongly protests over such kind of actions which seriously harmed the human rights of the victim", the diplomatic mission said in a statement.

Meng Wanzhou is scheduled to appear in court on Friday for a bail hearing.

Meng was arrested in connection with alleged violations of Iran sanctions, an issue that had previously become entangled in US-China trade talks when the Trump administration slapped harsh penalties on Chinese telecoms giant ZTE. The Wall Street Journal reported in April that the US Justice Department was investigating whether Huawei violated US sanctions on Iran.

Evans argued the arrest is just one small part of a broader, longer-term geopolitical story playing out between the US and China, and it is concerning for Canada to be caught in the middle.

China has demanded Canada release a Huawei Technologies executive who was arrested in a case that adds to technology tensions with Washington and threatens to complicate trade talks.

That includes theft of USA intellectual property by Chinese actors and forced technology transfers from U.S. companies to Chinese partners in joint ventures, he said.

Huawei is one of the largest tech companies in the world, but it has been under pressure in nations like the U.S., U.K., and Australia for allegedly doing the bidding of the Chinese government.

Meanwhile, news of the arrest has sparked fears on Wall Street that the trade war between the U.S. and China could escalate.

"This is something that we get from the Justice Department", he said.

Chelsea beaten at Wolves, loses more ground in title race
Maurizio Sarri's side also face MOL Vidi in the Europa League group stages and Bournemouth in the Carabao Cup quarter-final. I am really very anxious , not for the result, but we didn't react to the first goal at all. "I anxious about this".

Huawei's affordable smartphones have made strong inroads in the developing world, but the company has faced repeated setbacks in major Western economies over security concerns.

The arrest is believed to be related to alleged violations of U.S. sanctions though there has been no official statement from Washington.

The arrest is nearly certain to exacerbate tensions between President Donald Trump and President Xi Jinping at a highly sensitive time.

The U.S. stock market also took a nosedive on Thursday in response to the news, National Public Radio reported. A U.S. National Security Agency cybersecurity adviser, Rob Joyce, last month accused Beijing of violating a 2015 agreement with the U.S.to halt electronic theft of intellectual property.

State-run China Daily said the arrest of Huawei's chief financial officer appeared to be part of USA efforts to contain the company, which is the world's largest telecoms equipment provider, as well as its second-largest mobile phone maker.

The two sides had agreed to meet and resolve their differences within 90 days, but Meng's arrest has thrown this into doubt, bringing back the spectre of huge tariffs and the global economic damage they would cause. "Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the United Nations, U.S. and European Union".

"This is what you call playing hard ball", said Michael Every, head of Asia financial markets research at Rabobank in Hong Kong.

Image: Meng Wanzhou is a long-serving executive at Huawei.

Huawei recently surpassed Apple as the second-biggest smartphone maker, and is one of the largest telecommunications companies in the world. Although markets were closed on Wednesday in honor of a memorial service for former President George H.W. Bush, the dip also came after a 799-point fall on Tuesday.

What has Canada said about the arrest?

The probe of Huawei is similar to one that threatened the survival of China's ZTE Corp, which pleaded guilty in 2017 to violating USA laws that restrict the sale of American-made technology to Iran. "U.S. President Donald Trump should rein in the hostile activities of some Americans who may imperil Sino-U.S. relations".

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