The chinese ZTE to accept the tutelage of Washington was able to resume its activities

With the famous words “designed by Apple in California, assembled in China” on the back of the iPhone, we knew the dependence of the smartphones of Apple with chinese factories. With the saga of ZTE, the largest automotive telecom chinese, box of 75 000 employees, we know now the extraordinary dependence of China vis-à-vis the american industry. The company was founded in 1985 has simply ceased its main operations on 9 may. Two days earlier, its Stock had been suspended. The origin of these measures, Washington’s decision to prohibit american companies to fuel ZTE components, the firm being accused of having violated, during the years of embargoes from the us to Iran and North Korea.
A compromise

On may 13, the president, Donald Trump announced in a Tweet that he was working with his chinese counterpart Xi Jinping to allow ZTE to ” resume its activities, and fast “. After weeks of negotiations, a compromise was reached, announced, Thursday, 7 June, the u.s. commerce secretary Wilbur Ross. ZTE, which was worth in April $ 20 billion (17 billion euros) in Exchange for a turnover of 17 billion, will pay a fine of a billion dollars, to change its management team in a month, put under sequestration $ 400 million extra in case of new failure, and accept it for ten years, the presence on its premises of american agents sinisants who will report both to the executive from ZTE that the u.s. department of commerce.

Also read the chronicle (in edition subscribers) :

“Trump to the rescue of the chinese ZTE, sentenced by the american justice ”

The case of ZTE dates back to the beginning of the decade, when the Reuters news agency revealed in 2012 that the company does business with Iran. The american investigators are on the trail, discovering that ZTE violates the u.s. embargo by installing a telecommunications network in the country and he did the same with North Korea.

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