The rebound of pork prices in China has created worries among investors fearing the impact this new sign of inflation could have on the central bank’s easy money policy. Pork prices rising 17% led to expectations that inflation will rise to 2% as food, and pork, is a major component of the CPI. Source Want China Times
The bankruptcy of Yukos Oil in Russia will not be recognized in the Netherlands, the Dutch Supreme Court ruled on Friday, upholding a decision in 2017 by a lower appeals court. Source: The Moscow Times
The German government is debating whether to follow the United States and allies such as Australia in restricting China’s Huawei Technologies from accessing its next-generation mobile networks on national-security grounds.
Some Western countries have barred Huawei from their markets after US officials briefed allies that Huawei is at the beck and call of the Chinese state, warning that its network equipment may contain “back doors” that could open them up to cyberespionage. Huawei says such concerns are unfounded. Source: The Irish Time
- The bipartisan bills target firms supposedly in breach of US sanctions, and specifically cite Huawei and ZTE
- Republican Senator Tom Cotton branded Huawei ‘an intelligence-gathering arm of the Chinese Communist Party’
The measures would require the US president to ban the export of US components to any Chinese telecommunications company that violates US sanctions or export control laws. Source: South China Morrning Post
