China’s telecom firm Huawei is a case in point. Huawei directly, and via a branch of the Chinese government, which excels at hacking foreign firms, has pursued a dual strategy for two decades: steal whatever tech is possible, and purchase whatever cannot be replicated. Sanctions enacted by the Trump administration (and doubled down upon by the Biden administration) prevented legal tech transfer to Huawei at the same time American firms wised up to the hacking threat. The result? Huawei’s corporate position imploded in less than two years, taking it from being on the cusp of the world’s largest
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