Business & Finance

Reuters exclusively reports U.S. funding tapped for Pacific undersea cable after China rebuffed

Reuters exclusively reported that the Federated States of Micronesia will tap a U.S. funding facility to construct a Pacific undersea communications cable, after rejecting a Chinese company-led proposal that was deemed a security threat by U.S. officials. Two sources with knowledge of the plans said FSM would use U.S. funds to construct a line between two of its four states, Kosrae to Pohnpei. The undersea cables have far greater data capacity than satellites, leading Washington to raise concerns that the involvement of Chinese firms would compromise regional security.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: AsiaNorth America
Countries: AustraliaChina
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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