As the US has been constantly trying to target China attributing to its behavior against foreign industries, Beijing responded by saying that most of the objections raised by the US concerning structural aspects of its economy are accumulating against core interests.
Earlier, the indistinct “core interest” in the form of Beijing’s territorial claims on Taiwan, was brought up. However, a declaration notice was published recently by the state news agency Xinhua, which mentioned that China would not yield on its privilege about how to handle its economy.
Last week, an article was published, which claimed how the US is thrashing the global economy growth by opening a trade war with China.
China-based giant businesses have been directing strategic companies such as telecommunications, energy, and defense. Since those specific firms benefit from encouraging policies and financial support, foreign firms criticize such an unfair advantage. The rising trade arguments between both the nations have been revolving around the surrender of proprietary technology forcefully.
The Chinese government has also tried to influence the steady progress in financial regions while creating strict decisions regarding geopolitical matters.
On a similar note, apart from Huawei, other Chinese firms are preparing themselves to endure the hits possibly being launched by the US. China-based PC manufacturing firm, Lenovo, can reallocate production to other nations if the U.S. smashes additional tariffs on China, declared by the company’s CFO.
As the US President Donald Trump has decided to impose additional tariffs on Chinese imports worth $300 Billion. If the US imposed on Chinese consumer electronics too, Lenovo financial chief, Wai Ming Wong, told CNBC that the company is all set to shift the production to other countries from China.
Based on the earnings report for the fiscal year ended March 31, 2019, the company attained acquired profit of $597 Million.
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