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

Last Updated on 11/09/2021 by


Business & Finance

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.

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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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