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Strategies & Market Trends : The Art of Investing

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Dec 9 4:00 PM EST

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To: Sun Tzu who wrote (5273)	8/29/2022 8:56:59 AM
From: Sun Tzu	5 Recommendations Recommended By Arran Yuan Kirk © oldbeachlvr pak73 sixty2nds Read Replies (1) of 10688

The founder of Huawei has delivered a stark warning for the tech company’s future, sparking alarm with the frankness of his assessment and what it signals for smaller businesses amid China’s economic troubles and a global downturn. In a leaked internal memo, Ren Zhengfei told Huawei staff “the chill will be felt by everyone” and the company must focus on profit over cashflow and expansion if it is to survive the next three years, indicating further job cuts and divestments. “The next decade will be a very painful historical period, as the global economy continues to decline,” Ren said, pointing to the pandemic as well as the impact of the Ukraine war and a “continued blockade” by the US on some Chinese business. “Huawei must reduce any overly optimistic expectations for the future and until 2023 or even 2025, we must make survival the most important guideline, and not only survive but survive with quality.” Continues at amp.theguardian.com Note Huawei is China’s largest tech company. So if they are worried about survival, you know things are bad and the smaller fish are in trouble.

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