Merkel Says EU Antitrust Rules Are Naive About Threat of China
- German chancellor says Siemens-Alstom rejection was ‘rash’
- EU must consider European champions, rule changes, Merkel says
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German Chancellor Angela Merkel blasted the European Union’s merger rules for failing to take into account growing Chinese dominance and hampering efforts to compete on the global stage.
In a speech to an industry group in Berlin, the German leader complained that the EU Commission took no account of Chinese competition when it blocked an industry-changing rail deal between Germany’s Siemens AG and France’s Alstom SA.