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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.

 
 

 

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