U.S. restriction on chipmakers deals critical blow to Huawei
(World News USA)

HONG KONG (AP) — The latest U.S. sanctions on Huawei threaten to devastate China`s first global tech competitor, escalating a feud with Beijing that could disrupt technology industries worldwide. Huawei Technologies Ltd. is one of the biggest makers of smartphones and network equipment, but that $123 billion-a-year business is in jeopardy after Washington announced restrictions on use of American technology by foreign companies that make its processor chips. The conflict is politically explosive because Huawei is more than just China`s most successful private company. It is a national champion among industries the ruling Communist Party is promoting in hopes of transforming China into a...