That’s because Apple isn’t just another American company that sells goods to China. It’s Huawei’s biggest American rival in the mainland.
And while Apple’s suppliers are certainly feeling the crunch in their stock price from Apple’s lackluster business in China, — with big stock drops Thursday from Qorvo, Skyworks Solutions and Corning Thursday — makers of other consumer goods, like Nike, are seeing sustained popularity in the country.
Huawei’s products have competed fiercely with the iPhone in the country for years. At the same time, the U.S. government has long accused Huawei and its competitor ZTE of colluding with the Chinese government to take part in anti-competitive practices.
Those have included sanctions violations like those alleged in the Meng affair, as well as intellectual property theft and even spying. And while the Chinese government is not looking to ban iPhone products, according to Cook, the U.S. has put several restrictions in place on Chinese hardware.
Chinese businesses, however, have denied these claims. Further, they’ve said that the U.S. legal and intelligence communities are biased in favor of American businesses, not just legal reasons. ZTE said Wednesday said it had brought on former Sen. Joe Lieberman as a lobbyist to lead efforts in testing equipment over national security concerns. In late December, Reuters reported the U.S. government is also mulling wider-scale bans of Huawei and ZTE products in the United States.
Tensions over the issues show no signs of abating, and the U.S. State Department released a new China travel warning Thursday, highlighting the country’s increasing use of “exit bans” that prohibit U.S. citizens from leaving the country over issues like alleged investigations or debts.
from Viral News Updates http://bit.ly/2s6HOt0
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