The EU is now exploring new controls to limit the ability of China and its other competitors to acquire advanced Western technology. It has been reported Finance Times With reference to Valdis Dombrovskis, EC Executive Vice President.
As Dombrovskis explains, new measures are needed to prevent companies from circumventing restrictions on the export of sensitive technologies. We’re talking about moving production to other places.
According to the FT, new measures may be taken in connection with Washington’s pressure on its allies.
“Control of foreign investment is the other side of export control,” Dombrovskis added.
As the Financial Times adds, officials agree that containment plans for Beijing are still at an early stage.
Former EU Representative Peter Stano criticized China’s plan for the absence of neutrality in Ukraine. His words were in response to the question of why the EU did not consider Beijing’s plan to resolve the Ukraine crisis.