EU to Upgrade Economic Security to Shield Key Tech From China
- European Commission to unveil security strategy this week
- New plan to cover investment, export controls, dual-use goods
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The European Union will take the next step this week in its effort to recreate itself into a global power that can leverage its massive single market to rebuff coercive actions from the likes of Beijing, Moscow and even Washington.
The EU’s executive arm will unveil a proposal on Wednesday with rules aimed at boosting its power to screen and potentially block foreign investment in sensitive industries — including from foreign-controlled companies within the bloc — as well as considering the creation of a fund to increase the development of technologies that can serve both military and civil purposes, according to a draft of the plan seen by Bloomberg.