Huawei founder sparks alarm in China with warning of ‘painful’ next decade

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RealDude

Entrepreneur
The founder of Huawei has delivered a stark warning for the tech company’s future, sparking alarm with the frankness of his assessment and what it signals for smaller businesses amid China’s economic troubles and a global downturn.

In a leaked internal memo, Ren Zhengfei told Huawei staff “the chill will be felt by everyone” and the company must focus on profit over cashflow and expansion if it is to survive the next three years, indicating further job cuts and divestments.

“The next decade will be a very painful historical period, as the global economy continues to decline,” Ren said, pointing to the pandemic as well as the impact of the Ukraine war and a “continued blockade” by the US on some Chinese business.


 

Au999

New member
Did he mention the impact of being banned from Google and UK network for nefarious activity? Imagine that may have hit their bottom line too lol
 

RealDude

Entrepreneur
Things are no better in the West:

Fed's Powell sees pain ahead as interest rates to rise​

Americans are headed for a painful period of slow economic growth and possibly rising joblessness as the Federal Reserve raises interest rates to beat 40-year high inflation, Fed Chair Jerome Powell warned Friday in his bluntest language yet about what is in store for the world's biggest economy.

 

JackAlabama

Entrepreneur
Things are no better in the West:

Fed's Powell sees pain ahead as interest rates to rise​

Americans are headed for a painful period of slow economic growth and possibly rising joblessness as the Federal Reserve raises interest rates to beat 40-year high inflation, Fed Chair Jerome Powell warned Friday in his bluntest language yet about what is in store for the world's biggest economy.

That can change quickly especially if politicians claim smth.
 
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