Investment controls are increasing the pressure on superpower China

by time news

2023-08-10 19:30:28

Illustration of the Chinese and US flags with a microchip

The new US restrictions on foreign investments in China could be a model for the EU.

(Photo: Reuters)

Beijing, Berlin, New York, Brussels Governments around the world are tightening their course on China. On Wednesday, US President Joe Biden issued a decree that would allow US companies to invest more heavily in certain high-tech areas in China.

The EU Commission intends to take a similar approach and will present a corresponding proposal by the end of the year. Observers expect that the latest advance from the USA will encourage Brussels in its plans.

Behind the measures is the concern that the Chinese military will be strengthened by Western technology. According to the Commission, the EU wants to prevent European companies from improving the military capabilities of actors who could use them against international peace.

So far, the federal government has not been able to agree on a common position on investment controls. Vice Chancellor Robert Habeck (Greens) supports the measures. The German Chamber of Industry and Commerce, on the other hand, warns of “bureaucratic over-regulation”.

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