Latest Business News
The giant that no one trusts
Many executives consider themselves figures of great significance, but
few are capable of sending a chill through global markets simply by
getting arrested. Meng Wanzhou, also known as Sabrina Meng or Cathy
Meng, is one.
The chief financial officer of the Chinese telecoms giant Huawei and the daughter of its billionaire founder, Ren Zhengfei was detained
in Vancouver last week. She could face extradition to the US on charges thought to be related to allegations that Huawei breached sanctions levied by Washington against Iran.
Meng’s arrest, and Beijing’s demand that she be released amid allegations
from the Chinese media, has dashed hopes of a thaw in US-China trade
tensions. Chances of a "rapprochement" had appeared to be on the rise
following a 90 day tariff truce agreed between the two countries at the
recent G20 summit in Buenos Aires.
Stock markets in the US, UK and Europen already skittish during this
parlous period for relations between the world’s two biggest economies gyrated on Tuesday and Thursday as investors considered the possibility
of a fresh tariff escalation undermining an already fragile global
economy.
