China must prepare for difficult times as the international situation is increas...
BEIJING/WASHINGTON - China must prepare for difficult times as the international situation is increasingly complex, President Xi Jinping said in comments carried by state media on Wednesday, as the U.S.-China trade war took a mounting toll on tech giant Huawei.
During a three-day trip this week to the southern province of Jiangxi, a cradle of China’s Communist revolution, Xi urged people to learn the lessons of the hardships of the past. The report did not elaborate on those difficulties, and did not directly mention the trade war or of the United States. Repercussions of the blacklisting mounted for Huawei, with some mobile operators, including the Ymobile unit of Japan’s Softbank Corp and rival KDDI Corp putting launch plans for Huawei’s new P30 Lite smartphone on hold.
To cope, about one third said they were increasingly focusing their China operations on producing for Chinese customers and not for export, while one third said they were delaying and cancelling investment decisions.
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