China: December 2018 Archives

Boeing Was Going to Build Satellites for a China-Funded Firm. Why It Just Backed Out of the Deal, Fortune

"Boeing has canceled a deal to build a communications satellite -- which it has almost completed -- on the basis that the startup that ordered it has defaulted on payments. The sudden cancellation, however, comes on the heels of a report that detailed how the project was actually financed by a firm owned by the Chinese government. The Wall Street Journal exposed the situation earlier this week. The startup that ordered the satellite is called Global IP, and it wanted to use it for African Internet access. However, the deal was financed by an outfit called China Orient Asset Management, which is owned by the Chinese finance ministry and bankrolls military technology suppliers in the country. According to that report, some national security officials suspected Boeing was trying to bypass a ban on selling satellites directly to China. The ban is in place because of fears over the Chinese military gaining access to sensitive technology."

2 Companies Pay Penalties For Improving China Rockets, NY Times (2003)

"Two leading American aerospace companies have agreed to pay a record $32 million in penalties to settle civil charges that they unlawfully transferred rocket and satellite data to China in the 1990's. The agreement, which was completed on Tuesday and released today, comes two months after the State Department accused the companies, Hughes Electronics Corporation, a unit of General Motors, and Boeing Satellite Systems of 123 violations of export laws in connection with the Chinese data transfers. In a joint statement the companies said they ''express regret for not having obtained licenses that should have been obtained'' in the 1990's by a Hughes unit, the Hughes Space and Communications Company, which was acquired in 2000 by Boeing."

Keith's note: This has happened before. And this time Boeing only discovered the Chinese financing of this satellite in the past few days when the Wall Street Journal figured it out? Really Boeing?


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This page is an archive of entries in the China category from December 2018.

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