TELECOMMUNICATIONS giant Huawei is facing the future with optimism despite the economic devastation being caused by the novel coronavirus pandemic.

During a recent online cybersecurity webinar involving Jamaicans, dubbed ‘Tech Talk’, director of the European Centre for International Political Economy, Hosuk Lee-Makiyama, admitted that the effects of COVID-19 have been treacherous for the technology market, with all developed and resourceful countries — including China, the United States and those in Europe — being hit.

But Lee-Makiyama warned that the world would see a much bigger problem if major developing countries are also badly impacted by the virus.

“We don’t really see the bottom of it until it actually hits the emerging and developing countries,” said Lee-Makiyama as he commented on the current economic crises caused by the pandemic.

Lee-Makiyama further warned that investment decisions around the world may be modified going forward.

He pointed to how consolidated China’s global market has been with regards to 5G technology, with Huawei holding more than 80 per cent of market share in China and 50 per cent of the global market.

According to Lee-Makiyama, with the impact of COVID-19 in Europe, the geographical complication of 5G involvement has decreased three per cent in global GDP since December 2019, and is now 6.3 per cent lower than what was initially predicted a few months ago.

http://www.jamaicaobserver.com/news/huawei-expects-strong-growth-after-covid-19_193202