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

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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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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