The EU’s plan to escape the bear hug of the Chinese economy

by time news

2023-06-20 17:30:28

The European Union does not want to trip over the same stone twice. After the energy crisis resulting from the war in Ukraine and realizing its energy dependence on Russia, the bloc now aims to avoid a similar situation in the future with China and is therefore determined to reduce its economic dependence on the Asian giant and prevent Beijing from having access to cutting-edge technologies developed in Europe. Especially in key sectors, such as supercomputers, artificial intelligence and microchips. “We do not want to limit the development and prosperity of other countries, but we must be equipped to protect our security and our economic interests,” the head of European diplomacy, Josep Borrell, said at a press conference.

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