Australia has banned Chinese telecoms firm Huawei Technologies Co Ltd [HWT.UL] from supplying equipment for a 5G mobile network, citing risks of foreign interference and hacking which Beijing dismissed as an “excuse” to tilt the playing field against a Chinese firm. The move, following advice from security agencies, signals a hardening of Australia’s stance toward its biggest trading partner as relations have soured over Canberra’s allegations of Chinese meddling in Australian politics. It also brings Australia in line with the United States, which has restricted Huawei and compatriot ZTE Corp from its lucrative market for similar reasons. …read more
Source:: Yahoo Finance
