Raevenlord
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Access to affordable electronics isn't looking much of a reality for US citizens, as the US government (presently in the outgoing days of Trump's administration) has now announced the addition of Chinese tech company Xiaomi to its military-connections blacklist. The move, enforced via a presidential executive order, now also demands U.S. investors to divest, or sell out, of affected holdings of any companies on the blacklist, by Nov. 11 this year. This addition to the US blacklist is done in accordance with the US National Defense Authorization Act of 1999, and doesn't place XIAOMI in the Entity list, of which Huawei is a part of, which would impede the Chinese tech giant from acquiring US technology and components for fabrication of its products.
The US Department of Defense (DOD) said in a statement that "The Department is determined to highlight and counter the People's Republic of China's (PRC) Military-Civil Fusion development strategy, which supports the modernization goals of the People's Liberation Army (PLA) by ensuring its access to advanced technologies and expertise acquired and developed by even those PRC companies, universities, and research programs that appear to be civilian entities". Xiaomi has been classified as one of nine "Communist Chinese military companies".
Xiaomi has already stated that "The Company reiterates that it provides products and services for civilian and commercial use. The Company confirms that it is not owned, controlled or affiliated with the Chinese military, and is not a "Communist Chinese Military Company' defined under the NDAA"; but some harm has already been definitely done, as the company's shares opened to a precipitous fall of 10.6%.
Abishur Prakash, a geopolitical specialist at the Center for Innovating the Future (CIF), a Toronto-based consulting firm, told CNBC that "For Xiaomi, everything is now on the line. By being blacklisted, [Xiaomi] is now deemed a U.S. national security threat. This may affect its global strategy, from expanding into markets like India to hiring Western talent to launching new products in Africa."
Xiaomi rose towards the third spot in the largest worldwide phonemakers in 2020; the company produces almost anything technologically-related your mind can envision, including smartphones, washing machines, rice cookers, smart home technology, TVs, monitors, laptops, cars, among other, more exotic tech.
View at TechPowerUp Main Site
The US Department of Defense (DOD) said in a statement that "The Department is determined to highlight and counter the People's Republic of China's (PRC) Military-Civil Fusion development strategy, which supports the modernization goals of the People's Liberation Army (PLA) by ensuring its access to advanced technologies and expertise acquired and developed by even those PRC companies, universities, and research programs that appear to be civilian entities". Xiaomi has been classified as one of nine "Communist Chinese military companies".
Xiaomi has already stated that "The Company reiterates that it provides products and services for civilian and commercial use. The Company confirms that it is not owned, controlled or affiliated with the Chinese military, and is not a "Communist Chinese Military Company' defined under the NDAA"; but some harm has already been definitely done, as the company's shares opened to a precipitous fall of 10.6%.
Abishur Prakash, a geopolitical specialist at the Center for Innovating the Future (CIF), a Toronto-based consulting firm, told CNBC that "For Xiaomi, everything is now on the line. By being blacklisted, [Xiaomi] is now deemed a U.S. national security threat. This may affect its global strategy, from expanding into markets like India to hiring Western talent to launching new products in Africa."
Xiaomi rose towards the third spot in the largest worldwide phonemakers in 2020; the company produces almost anything technologically-related your mind can envision, including smartphones, washing machines, rice cookers, smart home technology, TVs, monitors, laptops, cars, among other, more exotic tech.
View at TechPowerUp Main Site
