Adding salt to the wounds of the dilapidated Chinese economy struggling with plenty of debts and businesses shutting down, the US revoked the license of a top Chinese telecom company. It cited national security concerns before blocking it.
The official ordered one of the biggest Chinese telecom companies to withdraw its infrastructure within 60 days.
As per US officials, the control of the Chinese government gave the company an opportunity to store, access, misroute US communications and disrupt them.
They added it would allow them to espionage and conduct several other dangerous activities against the United States.
However, the telecom company didn’t display any remorse but inflicted disappointment over the decision. It has worked for more than 20 years in the US.
The company in a statement said that it would pursue all available measures to ensure seamless services to its customers.
Interestingly, China telecom is one of the top communication companies that rule the Chinese telecom market.
Globally, the firm has millions of customers spread over 110 countries. It is serving plenty of products including internet, landline telephone networks and mobile.
The decision was received after Janet Yellen, US Treasury Secretary spoke to Liu He, China’s Vice Premier regarding the global economy’s state.