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May 23, 2021 09:07 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/AWfTUTjJsy0/us-backed-consortium-beats-chinas-for-massive-5g-contract-blanketing-ethiopia
US-Backed Consortium Beats China's for Massive 5G Contract Blanketing Ethiopia
"A U.S.-backed consortium beat out one financed by China in a closely watched telecommunications auction in Ethiopia — handing Washington a victory in its push to challenge Beijing's economic influence around the world," reports the Wall Street Journal:The East African country said Saturday it tapped a group of telecommunications companies led by the U.K.'s Vodafone Group PLC to build a nationwide, 5G-capable wireless network. The group had won financial backing for the multibillion-dollar project from a newly created U.S. foreign-aid agency. The agency offers low-interest loans, but the financing comes with a condition: the money won't be used to buy telecom equipment from China's Huawei Technologies Co. and ZTE Corp. Washington considers both a spying threat, an accusation the companies deny... The telecom license auction in Ethiopia took on wider geopolitical significance amid heightened competition between the U.S. and China over key technological pursuits, from the rollout of 5G to chip manufacturing. "The U.S. and China are fighting a proxy war in Ethiopia for influence," said Zemedeneh Negatu, chairman of Fairfax Africa Fund LLC, a U.S.-based investment firm that focuses on Africa. After all but shutting out Huawei in the U.S., Washington has become more assertive about challenging Beijing's economic footprint overseas. It is using new financial tools to win influence and ensure that strategic assets in foreign countries stay in friendly hands... Backing the Vodafone bid was the International Development Finance Corp., or DFC. The U.S. government-funded agency was created in December 2019 with a goal of offering alternatives to cheap, Chinese financing for foreign infrastructure projects... U.S. law also prohibits its loan from being used to buy Huawei or ZTE equipment, though one person familiar with the matter said it is possible the Vodafone-led bid could still buy some Chinese gear because of the project's size and cost.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/AWfTUTjJsy0/us-backed-consortium-beats-chinas-for-massive-5g-contract-blanketing-ethiopia
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