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The ramifications of EU efforts to isolate China

Press TV – June 22, 2023

The European Commission is proposing a €10 billion fund to develop strategic technologies in order to become less dependent on high tech imports from China.

It also wants to block EU nations from dealing with China when it comes to so called sensitive technologies. The claim is that it’s to reduce risk.

It would appear that positive ties being advanced outside of the West’s control are putting Washington and Brussels on edge.

Trade between the EU and China is worth an incredible 2.3 billion euro per day. Some analysts believe the US is trying to scupper this vital economic link.

During recent European Parliament debates, lawmakers have heavily criticized the EU’s policy towards Russia and China.

The fallout from energy sanctions against Moscow is severely harming EU citizens and businesses.

At a time of dire economic pressures, the European Commission wants to prioritize the government in Kyiv.

Analysts say vested interests in the United States are benefiting most from deteriorating EU-Russia and EU-China relations.

EU leaders are due to hold a summit at the end of next week to discuss the Commission’s trade proposals.

It’s already clear there are major concerns in member states because current arrangements with China are so lucrative.

It is reported that some EU countries believe the European Commission is overstepping the mark.

June 22, 2023 - Posted by | Economics | , ,

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