‘All Chinese money into Silicon Valley stops’ after Huawei ban, former Beijing banker warns
Published time: 24 Jan, 2019 07:20
Edited time: 24 Jan, 2019 10:18
Beijing may cut off all investment to Silicon Valley over Western pressure on China-based Huawei, the former deputy governor of the People’s Bank of China has warned as business leaders gathered in Davos.
“I can tell you, after the Huawei events, all the Chinese money into Silicon Valley stops. And no US money will want to invest into China either,” Zhu Min told CNBC on the sidelines of the World Economic Forum (WEF) on Tuesday. He did not elaborate on what should happen to bring about such an outcome.
The Chinese telecoms giant, which last year even beat US-based rival Apple to become the world’s second-largest smartphone maker, has recently been targeted in the West over alleged spying and claims that it poses a security threat.
https://www.rt.com/business/449570-china-cut-investment-silicon-valley/