HUAWEI EXEC APPEARS IN CANADA COURT

Vancouver, Dec. 8: A Canadian prosecutor urged a Vancouver court to deny bail to a Chinese executive at the heart of a case that is shaking up USChina relations and worrying global financial markets. Meng Wanzhou, the chief financial officer of telecommunications giant Huawei and daughter of its founder, was detained at the request of the US during a layover at the Vancouver airport last Saturday — the same day that Presidents Donald Trump and Xi Jinping of China agreed over dinner to a 90day ceasefire in a trade dispute that threatens to disrupt global commerce. The US alleges that Huawei used a Hong Kong shell company to sell equipment in Iran in violation of US sanctions. It also says that Meng and Huawei misled American banks about its business dealings in Iran. The surprise arrest raises doubts about whether the trade truce will hold and whether the world’s two biggest economies can resolve the complicated issues that divide them. “I think it will have a distinctively negative effect on the US- China talks,” said Philip Levy, senior fellow at the Chicago Council on Global Affairs.