The U.S. government is embarking on a push to persuade developing countries to shun Chinese telecommunications equipment, offering financial assistance to use alternatives that Washington says are safer and have fewer strings attached. And U.S. officials say they appear outnumbered by Chinese counterparts offering developing countries too-good-to-resist loans. Ms. Glick said the messages to developing countries will hit two themes: Chinese equipment is vulnerable to espionage, and the loans that Chinese finance agencies such as the state-controlled China Development Bank offer that finance the equipment can trap them. Western telecom-equipment executives have said Chinese finance agencies have typically offered below-market rates and repayment schedules that U.S. and European counterparts haven’t been able to match. Ms. Glick plans to travel to Finland on Sunday to visit government officials there and companies including Nokia, with the goal of signing an agreement to collaborate on telecom options for developing countries.

Source: Mint October 18, 2020 15:56 UTC