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Japan has no plan to join US in banning Chinese firms


Syed Umarullah HussainiWeb Editor

16th Oct, 2020. 10:38 am
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Japan

The Government of Japan has made it clear to the Trump administration that it will not be joining the US plan to bar China from telecommunications networks.

According to the details, the local media of Japan reported that Tokyo has denied joining the US plan to exclude Chinese firms from telecommunications networks.

The U.S. State Department in an update of a plan called the “Clean Network” calling for telecom companies, cloud service providers, and mobile apps of Chinese origin to be kept out of the United States.

The United States is pressing allies to bar Huawei [HWT.UL] from next-generation 5G mobile phone networks on security grounds.

Japan told the United States that Tokyo cannot join a framework that excludes a specific nation but will reconsider if there is any change to the current U.S. plan, according to the report.

Let it be known that on Thursday China raised six billion in dollar bond issue that was offered to the US Based Investors, for the first time in history.

The bond has been issued just a few weeks before November 3 election.

As per the data, China has carried out four dollar deals and one euro deal in the past three years.

China has offered a bond deal to U.S.-based investors who were most active in the longer-dated tranches of the transaction, for the first time.

It should be mentioned here that the rising tensions between the US and China have not deterred the investors from participating in the deal.

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