Huawei and ByteDance, two companies that best exemplify China’s ambitions to challenge U.S. tech dominance, are now stymied by strains in relations between China and countries such as the U.S., India, Australia and Britain
Smaller companies are being forced to re-think too.
But then came new U.S. sanctions against Chinese tech firms last October, prompted in part by repression of the Muslim Uighur population in the Western province of Xinjiang. Huawei is set to lose billions of dollars a year in revenue from bans on its network equipment, and more countries could follow the United States, Britain and others in blocking the company’s gear.
Huawei, Alibaba, SenseTime and Megvii declined to comment. ByteDance and Tencent did not respond to requests for comment. A huge domestic market is by far the biggest profit centre for China’s tech firms, and some countries remain keen to accept Chinese investment.
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