mo4ch:>‘Stupid economics’: Attack on Huawei tells world to avoid doing business with US, says analyst | Mo4ch News

The US has underestimated the consequences of the attack on Chinese telecom giant Huawei as it sends a strong signal for the rest of the world to avoid dealing with such an unstable partner, professor Richard Wolff believes.The trade war with China has already evolved into a technological one as Washington barred American companies from supplying Huawei with components or technology. The move will eventually deprive the Chinese corporation of access to Google’s apps and services as well as Intel and Qualcomm chips when the measure fully comes into force.“This is going to hurt the American economy for years to come in countless ways, it will leave an economic scar on the American economy and there is… a stunning example of stupid economics,” professor emeritus of economics at the University of Massachusetts, Richard Wolff, stressed in an interview to RT.He explained that the way the Trump administration is “hurting” Huawei may apply to many others. Now, CEOs realize that interactions w…