How China could retaliate against US and Canadian companies
Hong Kong (CNN Business)Canadian and US companies are bracing themselves for fallout from the arrest of a top executive at Chinese tech giant Huawei.
Meng Wanzhou, Huawei’s chief financial officer, is out on bail after sitting in a Canadian jail cell for more than a week. She faces extradition to the United States, where she is accused of helping Huawei dodge sanctions on Iran.
Huawei is key to China’s ambitions to become a global tech leader. It sells more smartphones than Apple (APPL) and is the world’s largest telecommunications equipment maker. Meng is the daughter of the company’s founder, Ren Zhengfei.
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