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NOTHING IS PERMANENT EXCEPT CHANGE

  • The U.S. case against the chief financial officer of China's Huawei, who was arrested in Canada last month, centers on the company's suspected ties to two obscure companies.
  • U.S. authorities allege CFO Meng Wanzhou deceived international banks into clearing transactions with Iran by claiming the two companies were independent of Huawei, when in fact Huawei controlled them.
  • Huawei, U.S. authorities assert, retained control of Skycom, using it to sell telecom equipment to Iran and move money out via the international banking system.

OTHER NEWS

China has reportedly offered to buy more U.S. products in the coming years in order to reduce the imbalance in trade of goods between the two countries. But that move concerns itself with a metric — the balance of bilateral trade — that doesn’t accurately reflect how economies are gaining or losing from those interactions, […]

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