Robert Taylor 
On Tuesday, China‘s government fiercely denounced America for supposedly seeking “technology hegemony” as the U.S. has been intensifying its pressure on tech giant Huawei by barring access to American suppliers.
Let’s Remember the Technology War Between China and the USA…
The technology war between China and the USA has centered around the Chinese tech giant Huawei. The US government has accused Huawei of being a national security threat and has imposed restrictions on the company’s ability to do business with American firms. As a result, Huawei has faced difficulties in acquiring the technology and components it needs to produce its products, and has faced restrictions on its ability to sell products in the US and other Western markets.
This has had a significant impact on Huawei’s finances. The company’s revenue growth has slowed, and it has faced challenges in maintaining its market share in the smartphone and telecom equipment industries. In addition, the uncertainty surrounding Huawei’s future has led to a decline in its stock price and increased borrowing costs, putting pressure on the company’s financial position.
Overall, the technology war between China and the US has had a major impact on Huawei’s finances, and has contributed to the company’s difficulties in maintaining its position as a leading tech company.
“USA Tries To Establish a Technology Hegemony”
According to two reliable sources, the Biden administration has put a halt to the licensing approvals of some U.S. companies that were selling essential components to a Chinese company. The business in question, Huawei, produces network devices and smartphones and has been part of the Commerce Department’s entity list since 2019 with specifically restricted licenses for limited component purchase purposes only. However, the recent restrictions could potentially deprive Huawei of access to processor chips and other technology from prominent U.S.-based companies such as Intel and Qualcomm, who are now obligated to cease cooperation with them.
“These reports have alarmed us greatly,” declared foreign ministry spokeswoman Mao Ning. She asserted that the U.S. is abusing its power to oppress Chinese opponents by expanding “the meaning of national security” beyond its limits. According to her, these actions defy market economy principles and are a clear demonstration of “technological hegemony.”
Beijing to Defend Legitimate Rights for Huawei
Chairman Mao declared that Beijing would “protect the legitimate rights” of Chinese companies but didn’t explain how they’d respond. This is not peculiar as this isn’t the first time China has gone through a situation like this with America, and in most cases, their government did nothing. The embargo on sales of advanced U.S. processor chips and services from Alphabet Inc.’s Google unit significantly hampered Huawei’s smartphone segment sales. To get back on track, Huawei sold its Honor line to revive profits by separating it from sanctions imposed against its corporate parent organization.
In a rush to get rid of U.S. components from its networks and other products, Huawei has started multiple new business lines aimed at factories, autonomous vehicles, and other industrial customers. The company is optimistic that these will not be affected by any pressure coming from the United States.
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