China and Huawei need US more than America needs them in 5G wireless race, say industry insiders

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President Trump's new order effectively blacklisting Huawei from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday.

"'will deploy 5G services and innovation better than anyone in the world,'" no matter which company provides the infrastructure. The banker also said, "'Does it matter if you use a Chinese manufactured phone or computer to access Facebook or Google. No.'"

The CEO, who also wanted to remain anonymous, told Kernen, in a jab at Huawei, "'[If] Huawei has no access to U.S. tech, do they have a 5G product? If the U.S. has no access to China's tech do we have a product? The answer is, yes.'" The Trump administration has pushed allies around the world not to adopt Huawei's 5G technology, which American officials have warned could be used for spying by the Chinese. Those efforts have had mixed results in Europe, where several countries declined to stop doing business with the company.

In recent months, the U.S. government has taken a number of steps against the firm, including getting Canadian authorities in December to arrest Huawei CFO Meng Wanzhou over allegations of defrauding several banks by concealing payments from Iran in violation of U.S. sanctions. The company has denied the allegations.

 

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So funny, who needs who?

👎 💋💋

I wonder Trump could get the second terms through 2025. How Can China do the business in US. Can't wait to see. All Chinese companies in USA ready to be taxes. And move out of US

You guys are the best comedy / satire twitter account for finance and investment I've ever seen. Every one of your posts is laced with sarcastic misinformation, which, if followed, would send you broke! you're making fun of the majority american opinion right?..... right........?

That's the biggest lie I have ever seen! Trump just trying to stop China's raising, but even if not only Trump but also Franklin try to stop China it is not gonna happen. Never ever it will happen. USA must sign a good deal with China If it wanna keep stay strong in the long term

That's the biggest lie I have ever seen! Trump just trying to stop China's raising, but even if not only Trump but also Franklin try to stop China it is not gonna happen.Never ever it will happen. USA must sign a good deal with China If it wanna keep stay strong in the long term.

If China doesn't want to negotiate terms that protect technology and intellectual property, this is the only choice we have left.

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