Huawei CFO arrested in Canada at behest of US

Discussion in 'Wall St. News' started by Here4money, Dec 6, 2018.

  1. Here4money


    I guess that's one way to negotiate trade deals....

    A Top Huawei Executive Is Arrested in Canada for Extradition to the U.S.

    SAN FRANCISCO — A top executive and daughter of the founder of the Chinese tech giant Huawei was arrested on Saturday in Canada at the request of the United States, in a move likely to escalate tensions between the two countries at a delicate moment.

    The arrest of Meng Wanzhou, the chief financial officer, unfolded on the same night that President Trump and President Xi Jinping of China dined together in Buenos Aires and agreed to a 90-day trade truce. The two countries are set to begin tense negotiations in hopes of ending a trade war that has been pummeling both economies.

    Those talks now face an even steeper challenge. The aim will be for the United States to ease its tariffs; in exchange, China will be expected to lower trade barriers and further open its markets to American businesses
  2. lylec305


    redundant thread
  3. JSOP


    The ball is now in China's court. If USA gets what it wants to hear, she can still be released. According to this article, before she gets extradited, she gets an extradition hearing and during the extradition hearing, if the judge deems that extradition is not "justified", she can still be released.

    I am sure this is creating an uproar in China right now as China would not understand this extradition process. All it sees is it's a face-losing tramping of a whole country's dignity.
    Last edited: Dec 7, 2018
  4. Overnight


    China doesn't have any balls, which is why they copy the shit out of everything. They have no dignity and nothing original to offer after they discovered how to make gunpowder like 4,000 years ago, because they have nothing original since then to offer of themselves. Buggers.

  5. Jzwu2017


    Sorry, you are misinformed on this one.

    The exact reason why the US is so afraid of Huawei is that Huawei is ahead in the new 5G and AI technology. Guess you cannot copy something from others if you are the best in the game.
  6. hoffmanw


    Strong disagree! Most things you take grant for today probably orginated from China like glass, machinery, rocketry, magnetism, iron, steel, flight, castles.... The West copied everything from China pre-1600 ad and innovated them. It may improve alot but they were originated from China.

    Even the fork utensil you use everyday for eating was originally from China. Chinese invented it in 7000 bc. It went out of style couple thousand years ago. They now use chopsticks.
  7. Overnight


    Guys, you hear this? Iron, steel, glass, castles, flight, magnets... It all came from China! We better run like hell!

  8. Overnight


    Why would a fork go "out-of-style"? It is easier to use than a pair of chopsticks. So for thousands of years, the Chinese have denied the fork and went the way of the chopstick.

    If this were true, then how did the west discover the fork, if the Chinese hid it from the rest of the world thousands of years before there was a "west"?

    Go away child, you will not last here.
  9. JSOP


    All the more reason that all the countries ban Huawei's technology if it's in bed with countries like Iran. Would you like Iran to spy on you with the 5G network technology and take over the world with AI? If not then USA is doing the right thing.
  10. vanzandt


    China calls on Canada to free Huawei CFO or face consequences
    [​IMG]Stock Markets12 minutes ago (Dec 08, 2018 10:23AM ET)

    [​IMG] © Reuters. Huawei's Executive Board Director Meng Wanzhou attends the VTB Capital Investment Forum "Russia Calling!" in Moscow

    By Ben Blanchard and David Ljunggren

    BEIJING/OTTAWA (Reuters) - China warned Canada on Saturday that there would be severe consequences if it did not immediately release Huawei Technologies Co Ltd's [HWT.UL] chief financial officer, calling the case "extremely nasty."

    Meng Wanzhou, Huawei's global chief financial officer, was arrested in Canada on Dec. 1 and faces extradition to the United States, which alleges that she covered up her company's links to a firm that tried to sell equipment to Iran despite sanctions.

    The executive is the daughter of the founder of Huawei.

    If extradited to the United States, Meng would face charges of conspiracy to defraud multiple financial institutions, a Canadian court heard on Friday, with a maximum sentence of 30 years for each charge.

    No decision was reached at the extradition hearing after nearly six hours of arguments and counter-arguments, and the hearing was adjourned until Monday.

    In a short statement, China's Foreign Ministry said that Vice Foreign Minister Le Yucheng had issued the warning to release Meng to Canada's ambassador in Beijing, summoning him to lodge a "strong protest."

    There was no immediate reaction from the office of Canadian Foreign Minister Chrystia Freeland on Saturday. When asked about the possible Chinese backlash after the arrest of Huawei's CFO, Prime Minister Justin Trudeau told reporters on Friday that Canada has a very good relationship with Beijing.

    Canada's arrest of Meng at the request of the United States while she was changing plane in Vancouver was a serious breach of her lawful rights, Le said.

    The move "ignored the law, was unreasonable" and was in its very nature "extremely nasty," he added.

    "China strongly urges the Canadian side to immediately release the detained person, and earnestly protect their lawful, legitimate rights, otherwise Canada must accept full responsibility for the serious consequences caused."

    The statement did not elaborate.

    "There will probably be a deep freeze with the Chinese in high-level visits and exchanges," David Mulroney, former Canadian ambassador to China, said on Friday.

    "The ability to talk about free trade will be put in the ice box for a while. But we're going to have to live with that. That's the price of dealing with a country like China."

    Meng's arrest was on the same day that U.S. President Donald Trump met in Argentina with China's Xi Jinping to look for ways to resolve an escalating trade war between the world's two largest economies.

    The news of her arrest has roiled stock markets and drawn condemnation from Chinese authorities, although Trump and his top economic advisers have played down its importance to trade talks after the two leaders agreed to a truce.

    A Huawei spokesman said on Friday the company has "every confidence that the Canadian and U.S. legal systems will reach the right conclusion." The company has said it complies with all applicable export control and sanctions laws and other regulations.
    #10     Dec 8, 2018