Huawei, China’s premier tech company, got a gift from the Commerce Department this month. American tech companies that still do business with Huawei using a 90-day license can continue to use that license for another 90-days. Ross extended the license for the third time, so rural telecom companies can continue to search for a vendor that can sell them the components they currently buy from Huawei.
President Trump claims Huawei spies for the Chinese government. But that didn’t stop the UK from signing a 5G contract with Ren Zhengfei’s $100 billion company. French lawmakers announced Huawei will build part of its 5G cellular platform, but that decision is still up for debate, according to the French press. If France decides not to use Huawei 5G infrastructure, Zhengfei said, he will still build a $234 million 5G factory in France.
Huawei’s smartphone division is between a rock and a hard place now that the company’s Pro40 series is Google-less. Trump’s blacklisting makes it impossible for Huawei to use Google apps on its new $943 smartphone. But according to Forbes, the Chat Partner website has an app that will allow Pro40 owners to add Google apps to the phone. Adding the app will violate Google’s service agreement, but since the Pro40 won’t be available in the United States, violating the service agreement doesn’t mean much to consumers in Asia, according to Forbes.
Kaiser Permanente started injecting volunteers with the COVID-19 vaccine its researchers developed in less than 90 days. The vaccine does not contain the virus, but it does contain an ingredient called Spike. Spike boosts the body’s immune system. The COVID-19 attaches itself to normal cells when the immune system has issues, but Spike will enhance the immune system so cells can function normally. If the vaccine works on volunteers, it could be available for distribution in 2021.
The Feds cut all the meat off interest rates before the March meeting, and that means Mr. Trump finally got his wish. Mr. Trump told Powell to cut interest rates to zero last year, but the Feds decided to wait. Powell cut rates in early March, but after the central banks around the globe cut rates, the Feds decided to join the rate-cutting party.
President Trump gave Powell the thumbs up when he made the rate cut announcement. But according to Wall Street economists, the rate cut won’t help stimulate the economy. COVID-19 isn’t like other economic bandits. The virus has a serious impact on consumer spending, and economists know if consumers stop spending, the economy will take an enormous hit.
Dil Bole Oberoi
