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Business / Finance

Latin American investors watch for further developments around China's Huawei

Forex Club 21.05.2019 at 07:40

Investors in Latin America are closely watching the situation with China's Huawei. After the company was blacklisted in the United States, it has suspended cooperation, in particular, Google. Thus, the Chinese side will lose access to the hardware and software products, with the exception of those that fall under the license of open source. In addition, the cooperation with Huawei and refused to chip manufacturers — Intel, Qualcomm, Broadcom, and Xilinx.

China in turn can temporarily raise tariffs for Apple products, bringing the price of smartphones will increase. Later, the Ministry of Commerce announced on the granting of temporary permits to conduct business with Huawei. They will act 90 days — until 19 August.

Despite these concessions, the traders in the Latin American markets fear that the conflict around Huawei may be a new factor in the escalation of trade conflicts between the US and China, and ultimately will lead to a slowdown in the world economy.

news From the inner region, it is possible to note the fact that oil-producing Venezuela has faced a gasoline crisis. While state oil company PDVSA has denied the information about the fuel shortage.

in addition, the financial regulators of Venezuela took the decision to develop its own payment system and refusal by the end of January from agreements with franchises Visa, Mastercard and Maestro.

Market, USA, dollar, oil, ruble, Forex club

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