Opposition Labour Party Keen on Banning Huawei from 5G Rollout in the UK? - Forex News by FX Leaders

Opposition Labour Party Keen on Banning Huawei from 5G Rollout in the UK?

Posted Wednesday, June 19, 2019 by
Arslan Butt • 1 min read

British opposition Labour party is in favor of delaying 5G rollout in the UK driven by security concerns because of the use of Huawei’s technology. The Labour party is leaning towards prioritizing national security over financial benefits that could be delayed if the UK depended on Huawei’s competitors for deployment of 5G networks.

The US government has repeatedly cautioned its allies against Huawei over allegations that the Chinese government uses its technology to spy on countries, citizens and businesses, and hence poses a security threat. Owing to this issue, the US has recently added Huawei to a trade blacklist, preventing it from doing business with US companies without special government approvals.

Australia and New Zealand have also banned their local companies from depending on Huawei’s technology and equipment to roll out 5G networks. The UK has not yet imposed a ban on Huawei, possibly over concerns that it could impact its trade relationship with China.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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