Hikvision has repeatedly said its devices are safe and secure and the company hasn’t been accused of using its devices to spy.
The U.S. Army said it removed surveillance cameras made by a Chinese state-backed manufacturer from a domestic military base, while a congressional committee plans to hold a hearing this month into whether small businesses face cybersecurity risks from using the equipment.
Fort Leonard Wood, an Army base in Missouri’s Ozarks, replaced five cameras on the base branded and made by Hangzhou Hikvision Digital Technology Co., said Col. Christopher Beck, the base’s chief of staff. He said officials at the base acted after reading media reports about the company.
WNU Editor: This is going to be a growing trend .... and not only in the U.S.. Electronic products made by Chinese manufactures/companies will be black-listed because of security concerns.
Says Trump tax changes will make trade deficit go up
China would likely win a trade war with the US if Washington decides to exert regulatory pressure on the world’s second-largest economy, top US China expert Nicholas Lardy said at a panel discussion in New York on Tuesday.
Lardy, senior fellow at the Peterson Institute for International Economics, was quoted by UPI as saying that the Chinese are better poised to counter the fallout that would result from such an economic clash.
He explained that trade deficits arise for more complicated reasons, and the Trump administration is simplifying the issue in blaming foreign governments, including China’s.
WNU Editor: If a trade war breaks out between the U.S. and China .... both countries (and the global economy) will suffer. But I do not see China winning such a conflict. Maybe in the long term their industrial base will recover and deliver the goods that the world wants .... but in the short to medium term where much of their economy and government finances are dependent on huge trade surpluses with the U.S. .... a trade conflict is going to sting.
More News On The Growing Concerns Of A U.S. - China Trade War
* Officials have recommended slowing or halting purchases * China is world’s biggest foreign holder of U.S. Treasuries
China added to bond investors’ jitters on Wednesday as traders braced for what they feared could be the end of a three-decade bull market.
Officials in Beijing reviewing the nation’s foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries, according to people familiar with the matter. Benchmark bonds reversed earlier gains on the news, with the yield on 10-year Treasuries climbing for a fifth day.
China holds the world’s largest foreign-exchange reserves, at $3.1 trillion, and regularly assesses its strategy for investing them. It isn’t clear whether the recommendations of the officials have been adopted. The market for U.S. government bonds is becoming less attractive relative to other assets, and trade tensions with the U.S. may provide a reason to slow or stop buying American debt, the thinking of these officials goes, according to the people, who asked not to be named as they aren’t allowed to discuss the matter publicly. China’s State Administration of Foreign Exchange didn’t immediately reply to a fax seeking comment on the matter.
WNU Editor: Some are speculating that this is a pressure tactic from China on the U.S. over trade issues. I see it differently. There are better investments elsewhere with a better return, but there are also concerns in China on the slowing down of the economy, and the need to address the severe debt problems that some of China's provinces and large industries now find themselves in.
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