How Will Biden’s Policy Towards Huawei Affect the Middle East?

SourceAl Bawaba
SectorEconomy
CountryMiddle east

With new political changes in the US, the world can't help but wonder what policies will the new administration take towards China, the world's second-largest economy, especially after the soon-leaving Trump administration had a complicated relationship with it, signing a trade deal earlier this year, before cracking down on major Chinese businesses. Being the factory of the world, tariffs or sanctions imposed by the US on Chinese products have had direct impacts on global markets, including the one in the Middle East. Receiving the harshest blow due to what the Trump administration described as "national security concerns," the telecommunication giant Huawei has been under huge pressure, since the US imposed a number of sanctions on it and banned American and Asian suppliers from working with it. The biggest issue for Huawei throughout 2020 has been the deprivation of Google services previously necessary for its devices to run the Android operating system.  Despite still being amongst the world's biggest sellers of smartphone devices, only overthrown by Samsung earlier this month, Huawei has reported a minimum of 22% year-to-year decline in sales compared to 2019, including its Chinese market that has seen a contraction of about 15%. While this drop can be largely attributed to the coronavirus pandemic which has negatively affected ...read more...