Huawei Technologies is Cisco Systems' biggest threat, thanks to its refusal to "play by the rules" regarding security and protecting intellectual property, says Cisco CEO John Chambers. Still, Huawei's purported misdeeds don't necessarily reflect badly on Chinese policymakers or the country's broader business community. "I would not interpret Huawei as China," Chambers said. "China will protect [intellectual property] when it is in their best interest. And that day is coming."

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