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Home / Mike Norman Economics / RT — US is an ‘out-and-out eavesdropping empire,’ says Beijing, as Washington lists Chinese companies as national security threat

RT — US is an ‘out-and-out eavesdropping empire,’ says Beijing, as Washington lists Chinese companies as national security threat

Summary:
The Chinese Foreign Ministry has taken aim at Washington, labeling it ‘hypocritical’ and claiming it spies on its own allies, after the US designated five Chinese companies as posing a threat to national security under a 2019 law.“The US government has generalized the concept of national security, abused national power and unscrupulously suppressed Chinese high-tech enterprises,” Chinese Foreign Ministry spokesman Zhao Lijian told reporters on Monday. These US practices are a complete contradiction of the market economy principles that America has always advertised, Zhao added, blasting Washington for its “groundless” and “hypocritical” move against Chinese firms.…On Friday, the Federal Communications Commission (FCC) designated five Chinese companies, Huawei Technologies Co., ZTE Corp.,

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The Chinese Foreign Ministry has taken aim at Washington, labeling it ‘hypocritical’ and claiming it spies on its own allies, after the US designated five Chinese companies as posing a threat to national security under a 2019 law.

“The US government has generalized the concept of national security, abused national power and unscrupulously suppressed Chinese high-tech enterprises,” Chinese Foreign Ministry spokesman Zhao Lijian told reporters on Monday.

These US practices are a complete contradiction of the market economy principles that America has always advertised, Zhao added, blasting Washington for its “groundless” and “hypocritical” move against Chinese firms.…

On Friday, the Federal Communications Commission (FCC) designated five Chinese companies, Huawei Technologies Co., ZTE Corp., Hytera Communications Corp., Hangzhou Hikvision Digital Technology Co. and Zhejiang Dahua Technology Co. as posing a threat to national security under a 2019 law aimed at protecting the US’s communications networks....

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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