BRUSSELS: The EU on Tuesday (Mar 12) set out a 10-point plan aimed at rebalancing relations with Beijing as fears grow about Chinese investment ...
BRUSSELS: The EU on Tuesday set out a 10-point plan aimed at rebalancing relations with Beijing as fears grow about Chinese investment and influence on critical infrastructure, including new communication technology.
The EU last month also took a major step towards toughening up scrutiny of foreign takeovers, with trade commissioner Cecilia Malmstroem acknowledging there was"no secret" about concerns over China. "The EU must ... more assertively promote reciprocity in our trade and investment relations, foster a level playing field and protect our economic, social and political models," Katainen said.The EU is concerned about China's failure to open up its markets to foreign competitors and the distorting influence of subsidies for state-run enterprises.
The Huawei controversy has thrust the issue of 5G networks - which promise near-instantaneous connectivity, vast data capacity and futuristic technologies to Europeans - to the top of the agenda.
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