EU to analyse US ban on China tech investments
The bloc is keen to prevent China from using its technological advancements to undermine international peace and security.
The European Commission announced that it will analyse the recent US ban on new US investment in China’s sensitive technologies. On Wednesday, US President Joe Biden signed an executive order restricting or prohibiting US investments in Chinese entities in three areas: semiconductors and microelectronics, quantum information technologies, and specific AI systems.
The Commission spokesperson clarified that this development is a matter of concern for the European Union’s economic security. Additionally, the EU and its member states are keen on preventing their companies’ capital, expertise, and knowledge from enabling technological advancements which advance the military and intelligence capabilities of countries that are likely to use them to undermine international peace and security. In acknowledging the European Commission’s plan, the German economy ministry spokesperson assured Berlin’s active participation in the process.
Earlier in June, the EC had presented its own economic security plan on similar lines, which tightened controls on exports and outflows of technologies that could be used for military purposes by countries like China.
Why does it matter?
The Commission’s spokesperson clarified that the EU look forwards to continued cooperation on this topic with the USA. Such a joint effort could have more impact and even attract more partners, spelling trouble for China.
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