The head of industry for the European Union said on Monday (October 31) that governments and businesses in Europe should recognise China as a competitor to the EU. He added that the EU shouldn’t approach Chinese investment with naiveté.
The remarks made by European Commissioner Thierry Breton seemed to be directed partially at Germany, whose Chancellor Olaf Scholz will be in Beijing on Friday.
In order to ensure that rival political powers do not gain political leverage, the EU has taken defensive measures in past few years to control investment from state-owned foreign players.
However, Germany’s recent decision to permit the sale of a stake in Hamburg’s port, the nation’s largest, to a Chinese corporation, has many diplomats perplexed.
Breton stated in an interview that he liked the choice to sell China’s Cosco, only 25% of the terminal as opposed to the previous proposal.
We must use utmost caution, he urged.
Since the EU designated China as a ‘systemic opponent’ in 2019, according to Breton, the EU has implemented a number of measures they can use to thwart investment in vital infrastructure.
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