Final Word from Tuesday, December 18, 2018

A secret agreement between the Chinese Communist Party and ČSSD that was dropped after it leaked in June 2016 called for the two sides to help each other in the fields of finance, connectivity, investment, trade, science and technology. A non-public memorandum signed six weeks ago between PPF and Huawei hasn't leaked to the press but could easily contain similar language, given China's known objectives. The NÚKIB cybersecurity office issued a formal warning yesterday against the products and technology of Huawei and ZTE. It states that the legal and political environment in China requires private companies to cooperate in achieving the political objectives of the People's Republic, including participating in espionage activities. PPF is both a major client of Huawei's in the CR and an investor in China that is dependent on the Chinese state for licenses and for approval to repatriate profits. Does PPF's exposure in China make it a security risk in the CR? [ Czech Republic financial extortion O2 ČR Cetin ]

Glossary of difficult words

to repatriate - to send or take (money) back to one's own country;

exposure - vulnerability to risk; the amount one stands to lose in an investment.

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