When this ill-judged plan broke out in open war on November 2, president Dwight Eisenhower made it clear that the US would not support the move. Britain and its allies were forced to agree to a UN led ceasefire. This marked the ultimate end of the British hegemony in global affairs.
Since the end of the Cold War, American multinational companies such as McDonald's, KFC, Amazon, Apple and Facebook spread across the globe. When McDonald's opened in Moscow’s Pushkinskaya Square on January 31, 1990, it marked the beginning of US led globalisation. That day, McDonald's served more than 30000 hungry Muscovites eager to try tasty capitalistic diets. No one would have thought that in 30 years’ time, US multinational companies will confront their toughest competition from multinational companies in China.
Chinese telecom giant Huawei is a case in point. Since 1998, Huawei has grown exponentially, occupying number two spot after Samsung in the world. Spooked by Huawei dominance in Artificial Intelligence, Washington placed strident restrictions on the company to avoid Chinese dominance in the rolling out of the 5G wireless infrastructure at home and abroad.
It came at a time when Russian President Vladimir Putin predicted that the country that leads in Artificial Intelligence, including 5G, will dominate global affairs.