EU Wants to Clip China’s Technology Purchasing Power

by Saurabh Mishra on January 13th, 2011 1

According to IDG News Sources, The European Union’s industry commissioner wants the power to block China from buying up European tech companies. In recent times, Chinese has bought so many technologies from Europe. Europe’s weaken economy after recession can’t feed the Chinese growth circle. Europe worried about Chinese over late policies to capture worldwide market. China already impacted whole world by its technological purchasing wings.

Commissioner Antonio Tajani made the comments in an interview with German daily paper Handelsblatt. Europe should establish a new authority with powers to block foreign takeovers of strategic European businesses, he said. “Chinese companies have the means to buy more and more European enterprises with key technologies in important sectors,” said Tajani. (Via PC WORLD)

The commissioner foresees an authority along the same lines as the United States’ Committee on Foreign Investment. The projected E.U. authority would resolve “if the acquisition (of a company) with European know-how by a private or public foreign company represented a danger or not”. The comments will likely strain even furthers the already tense China-E.U. trade relations. E.U. companies also squabble that China should cut down its investment policies to keep the players in a same level.

China wants to acquire technology companies across the board to make stronger it’s Command and Control efforts across the board. U.S. companies are so blinded by money that they can’t perceive the type of power being given to China. Europe is already under the shattered policies of worldwide growing economy. Countries Like UK, where the economy deepened hard within the purchasing powers. The United States is also mulling its pull show, to keep the technology corporations from the grip of China. Russia tarnished market: flood foreign markets with cheap stuff, and let their money flood in. Whole EU is under the fetches of its poor & welded back arms. Blocking China’s window may not go to work in the future. Let’s wait till China’s tails beckons.

News Source: PC WORLD , Image: apanfocus.org