[Bloomberg] The European Union is considering forcing Chinese firms to hand over technology to European companies if they want to operate locally, in an aggressive new push to make the bloc's industry more competitive.
The measures would apply to companies seeking access to key digital and manufacturing markets like cars and batteries, according to people familiar with the plans. The rules would also require the firms to use a set amount of EU goods or labor, and to add value to the products on EU soil.
Posted by TXDobber
3 Comments
Oh how the turntables
China should have no problem with this, right? Considering this is exactly what they’ve been doing to western companies for decades.
Considering the economic nationalism that China has undertaken for decades, and a renewed and expanded American economic nationalism under both Biden & Trump, good that Europe is starting to realise that the rules of the game have changed, and we’re not in the 90s anymore.
!ping EUROPE
The EU is going to be disappointed when this doesn’t pan out the way it will. It isn’t just tech advancement that made the Chinese EV sector powerful, but automation and vertical supply chains to cut costs.
Plus, this ultimately won’t solve the malaise that is affecting Europe recently. Germany’s crisis is some parts internal, like bureaucracy and unions, but also some parts external, like declining competitiveness in China. The internal problems won’t be solved by tech transfers, and the external problems are out of their control.