Less than 10 years ago, all top 10 technology companies by revenue were American. Global telecom standards were set by US companies such as AT&T and Verizon. Today, by contrast, four of the top 10 internet firms are Chinese.
A decade ago, Huawei, the leading Chinese telecoms equipment maker, was a little known provider of services largely to south-east Asia, and eastern and central Europe, rather than a rival to the Americans in more developed markets. Its revenues amounted to some $28bn in 2009. Last year they reached $107bn.
Friction between the US and China, which seemed to have its origins in trade disputes, has moved on. Today telecoms and wireless technology are at the forefront of the competitive sparring between the two countries.
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