How Will Chinese Companies Defend Themselves From The U.S.-China Trade War?
The U.S.-China trade war has recently been gaining momentum, especially after the American government blacklisted Huawei as a potential threat to national defense. However, how do the Chinese companies react to such sanctions and have they found a way out of a difficult situation? Read more: https://thecoinshark.net/no-android-on-huawei-mobile-phones-chinese-tech-giant-was-blacklisted/ Bloomberg has conducted research on a Chinese medical firm, Balance Medical Technology Co., which sold its share to fund a 16,000 square-meter facility with a research center to boost its production. Due to the US trade tariffs and the latest news, the company is concerned that small companies like that would be closed from a global tech supply chain.
“If this trade war persists, those lacking hardcore technology won’t have any good cards to play,” said Jin Lei, a founder of Balance Medical Technology.The Chairman of China, Xi Jinping talked about creating a special tech board to develop self-innovation inside the country. Many tech companies have supported this idea since they would be able to get governmental financial aid. Moreover, they are sure that it is the right way to beat the U.S. giant and become bigger than they are now. What do you think they will be able or not? We remind you: https://thecoinshark.net/ernst-young-china-and-india-lead-in-fintech-industry-adoption/