Huawei arrest threatens global markets, Trump-China trade truce
(Worthy News) – At a time of maximum tension in the U.S.-China relationship, news of the arrest last weekend of a top Chinese tech official in Canada managed to set off multiple shock waves Thursday, shining a harsh light on U.S. and allied concerns about Chinese state-backed corporate giants, massively complicating a trade war “truce” just negotiated by President Trump and Chinese President Xi Jinping, and — for a few hours — threatening to buckle global stock markets and wipe out a big chunk of the recent Wall Street gains Mr. Trump is fond of trumpeting.
Virtually at the same moment Mr. Trump and Mr. Xi were working out their deal over dinner at the G-20 summit in Argentina Saturday, Canadian officials were arresting Meng Wanzhou, chief financial officer of Huawei Technologies Co., a crown jewel of China’s burgeoning high-tech industry, at the request of U.S. officials.