Europe turns on China

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Europe joins Cold War 2.0:

Germany is to impose tough new restrictions on telecoms equipment providers which will effectively exclude Huawei from the buildout of the country’s 5G phone networks.

An IT security bill that Angela Merkel’s cabinet is planning to pass in the coming weeks would stop short of an outright ban on Huawei but creates bureaucratic obstacles that could prove insurmountable for the Chinese company, according to MPs with knowledge of the draft legislation.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.