[American Thinker] Sir Richard Dearlove, former Head of British Secret Intelligence Service MI6 warns that 99 percent of Huawei is directly owned by the Chinese Communist Party.In ’Defending Our Data: Huawei, 5G and the Five Eyes,’ Dearlove reports that by undercutting the prices of once dominant European telecom network equipment by 18-30 percent, Huawei’s sales rose from $4.6 billion in in 2014 to $105 billion in 2018.
Although customers give high marks to Huawei for quality and reliability, the key to achieving its 41 percent global telecom network infrastructure share has been Chinese state-owned banks lending $10 billion directly to Huawei or indirectly to its customers.
With a purported a $100 billion Chinese bank credit line, Huawei was positioned to gain an even more dominant market share with the roll-out of fifth generation cellular network technology (5G), before President Trump placed Huawei Technologies, Inc. on the U.S. Commerce Department's "Entity List," that bans American companies from selling components to Huawei without a U.S. government license.
President Trump’s actions may have reduced Huawei’s potential sales by up to 60 percent, due to follow-on bans by U.S. allies in Europe, Japan, Australia, and Canada and others. But given that Huawei runs on Google Android software and gets its chips from Intel and Qualcomm, the U.S. ban may be the equivalent of a technological death sentence.