The U.S. Risks Losing Out to China on Cryptocurrencies

[Geee]

Issues & Insights

The rollercoaster trade negotiations conducted with China over the last few months coupled with mounting concerns over emerging technologies have underscored the looming presence the Asian superpower plays on the global stage of international relations and in the development of new technology. 

Let’s hope President Donald Trump gets America the better deal he promised. And let’s hope he hangs tough on the critical issue of telecommunications. The tensions between the U.S. and China over trade have escalated and, because of the race to 5G and the role played by Huawei, the Asian telecom conglomerate closely tied to the Chinese military and security services, things will get worse before they get better. 

The deployment of Huawei’s equipment, as the British recently discovered to their great misfortune, invites the possibility of serious breaches in the security of critical systems. The president was right to take decisive action to prevent it from occurring here and American lawmakers should follow up with additional consumer protections as the fate of entire industries are at stake. 

[Valin]

Or Not.