Huawei has a never-say-die business culture. It could become a national champion for Xi Jinping’s mission to make China more self-reliant in technology
The question is what Huawei ought to do next. Should it tough out American sanctions and hope, as Victor Zhang, its global vice-president, puts it, that its research and development budget, a whopping $21.
The tough-it-out approach is strewn with difficulties, though. Since America’s government branded Huawei’s 5gear a national-security threat in 2019, and a year later curtailed the firm’s access to chips made with American equipment, its smartphone business, which in 2020 generated more than half of revenues, has cratered.
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