The Asian Age - - World -

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.

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