Wobbly Chinese telecom giant 'may sack 12,000', shares nosedive Chinese telecoms kit maker ZTE is in for a rough ride: its shares fell to a three-year low on Monday amid a profit warning and rumours that it may axe up to 12,000 workers. The firm, second in the domestic market for telecoms equipment behind Huawei, warned last week that its net profits for the first half of 2012 could fall …
Wow. Chinese government subsidizing it's companies to dump their products across the world. FINALLY we're opening our eyes.
The European Commission is investigating ZTE and and Shenzhen neighbour Huawei over allegations that the Chinese government illegally subsidised the firms, enabling them to offer their kit to customers at below cost, a process known as "dumping".
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