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China Threatens To Pull Money From Silicon Valley: "Trade War Will Become A Tech War"

• by Tyler Durdan

During a press conference on Thursday, Ministry of Commerce Spokesman Gao Feng denied reports that a meeting involving high-level trade officials in Washington had been cancelled (the FT had cited US frustrations with China's reluctance to cave on demands relating to curbing IP theft and certain structural reforms) - backing up Larry Kudlow, who sparked a brief rally just before the close on Wednesday when he appeared on CNBC to deny these reports.

Kudlow said yesterday that the most important meeting, between a Chinese delegation led by Vice Premier Liu He, the country's top economic official, was still slated to take place in Washington next week.

But in the latest sign that the simmering tensions over the US's dispute with Huawei continue to spill over into trade talks, RT reported on Thursday that Beijing might cut off all Chinese funding to Silicon Valley after the US slapped an export ban on a Huawei subsidiary based in Silicon Valley.

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