The U.S. Department of Commerce may have issued a corporate death sentence to Chinese telecom equipment maker by banning American firms from selling to it for 7 years. The company condemned the ban today, but the U.S. is unlikely to reverse its decision.
The big picture: While the company may end up crippled, the episode has strategic and propaganda value for Beijing. The timing of the announcement — right before the 2nd anniversary of an important speech on cybersecurity and technology made by Chinese President Xi Jinping — only serves to strengthen the point he's been making about the need to reduce reliance on foreign, and especially American, technologies.
While Beijing is courting the European Union for support in a trade war, European officials are sounding the alarm on China's ambitions in their countries.
Why it matters: If the U.S. starts closing off its market to the Chinese, Beijing needs the EU to remain neutral and stay open to business with China, but the Europeans are increasingly frustrated with China's behavior and wary of its ever-growing influence.
Hollywood blockbuster "Black Panther" premiered in Saudi Arabia's first movie theater for the first time on Wednesday evening in a groundbreaking moment for the country, AP's Aya Batrawy reports from Riyadh.
Why it matters: The screening was private and invitation-only, but it was a clear marker of change in the country as it ushers in a new era of progressivism for the country.
