The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: GPS Info who wrote (2650)	6/26/2019 1:56:21 AM
From: elmatador	of 13801

Huawei has closed down its fast-growing but controversial solar energy business in the US as it continues to battle criticism from both the Trump administration and politicians in Congress. Huawei’s solar equipment, make up about 4% of the US market, but more than 20% of sales worldwide. People with knowledge of the situation have told the Financial Times the company had shut its US operation selling solar inverters, which help move electricity from solar panels on to the grid. The company confirmed it had axed a number of functions and jobs in the US, but did not confirm which parts of the business were affected. Huawei’s solar business had been growing quickly until running into opposition from members of Congress. Both Republicans and Democrats had warned that using Huawei equipment in the US solar grid could enable China to interfere with or even cut off American electricity supplies, since the gear are able to communicate with outside parties about the electricity passing through them.

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