The European Union is set to demand technology transfers from Chinese companies as part of a new trade agreement, as reported by the Financial Times. This move indicates a shift in the EU’s approach towards China, which has been accused of using unfair trade practices to gain technological advantages.
The demand for technology transfers comes amid growing concerns about China’s influence in key industries such as telecommunications and electric vehicles. The EU is aiming to level the playing field by requiring Chinese companies to share their technology with European firms in exchange for access to the lucrative European market.
This new approach is a departure from the EU’s previous strategy of engaging with China through traditional trade agreements. The shift towards demanding technology transfers reflects a more assertive stance towards protecting European industries and ensuring fair competition.
However, the move is likely to face opposition from China, which has been resistant to sharing its technology with foreign companies. Chinese companies have long been accused of benefiting from state subsidies and intellectual property theft to gain a competitive edge in global markets.
The demand for technology transfers is also seen as a way for the EU to address concerns about national security, as Chinese companies have been linked to espionage and cyber attacks. By requiring technology transfers, the EU aims to mitigate the risks associated with Chinese firms gaining access to critical technologies.
Overall, the EU’s decision to demand technology transfers from Chinese companies signals a more assertive approach towards trade relations with China. This move represents a shift towards protecting European industries and ensuring fair competition in the global market.
Source
Photo credit www.ft.com
