US move to keep out Chinese firms stuns daily
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US move to keep out Chinese firms stuns daily

Last Updated: Tuesday, October 9, 2012, 13:21
 
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US move to keep out Chinese firms stuns daily
Beijing: A Chinese daily Tuesday said it was shocked to learn that the US proposed to keep out Chinese companies from the American market.

With the world's economic recovery showing no signs of improvement, "we have seen countries resorting to protectionist measures as the last straw to save their ailing economies", said an editorial in the China Daily.

"Still, it is shocking to learn that the United States is proposing to shut Chinese companies out of the US market," it said.

The daily pointed out that a draft report by the US House Intelligence Committee accuses two Chinese technology firms - Huawei Technologies and ZTE Corp - of posing a national security threat to the US.

The report said: "China has the means, opportunity, and motive to use telecommunications companies for malicious purposes."

China Daily said that such allegations do not hold water and "only stain the image of the US itself and dampen the enthusiasm of Chinese companies to do businesses in the US".

Batting for Huawei and ZTE, which are among the world's leading suppliers of telecommunications equipment and cell phones, the editorial said they have expanded their business in roughly 140 countries.

"Both non-governmental companies have grown through entrepreneurship and technological innovation and have been developing their international business based on market economy principles," it said.

The daily went on to say that this is not the first time the two have been put under scrutiny in the US.

"In the past, US lawmakers have blocked several proposed deals between the two Chinese companies and their US business partners.

"This is not the first time either that Chinese companies have fallen prey to American claims that they are a national security risk. A 2005 plan by a Chinese oil company to bid for Unocal Corp was aborted due to an administrative order from Washington that also cited national security concerns," it noted.

IANS


First Published: Tuesday, October 9, 2012, 13:21


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