By Rachel Kraus
Chinese phone and mobile equipment maker ZTE just received a stinging slap on the wrist from the U.S. Department of Commerce.
On Monday, the Commerce Department announced that it would begin denying export privileges to ZTE for repeatedly misleading its Bureau of Industry and Security.
A denial of export privileges means that ZTE will not be able to purchase mobile components from American companies. The punishment outlined by the “Denial Order” will last for a biblical seven years.
The fiasco is just the latest point of tension between the Chinese mobile company and the U.S. government. In February, the NSA, CIA, and FBI …