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"China is about 30 percent of the global market for semiconductors," Mike Russo, vice-president of SEMI, an advocacy group, told China Daily. "The industry as a whole and all nations involved benefit from access to markets. Companies re-invest profits in research and leverage new technology. Folks are jockeying for access — no one has sewn it up."

"China Minmetals was one of the earliest participant in China-Chile economic cooperation," Guo said, noting that the company imported China's first shipment of electrolytic copper from Chile and inked a 15-year-long sales deal with a Chilean copper producer.

"China has the best resources in frequency spectrum and base stations. Local consumers and enterprises have some of the highest enthusiasm and willingness to embrace 5G. And the governments have rolled out favorable policies," Xu said.

"By putting the funds into special accounts designated by the central bank, the payment firms can no longer earn interest on the reserved funds. Meanwhile their bargaining power with banks will be greatly affected," he said.

"But, today, this message from the IEEE about replacing all reviewers from Huawei in IEEE journals challenges my professional integrity. I have to say that, as a professor, I don't accept this. Therefore, I have decided to quit from IEEE editorial boards until it returns to professional integrity."