cross-posted from: https://mander.xyz/post/51135633
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The EU unveiled in March new “Made in Europe” rules for companies trying to access public funds in strategic sectors including cars, green tech and steel, obliging firms to meet minimum thresholds for EU-made parts.
The proposal, held up for months by wrangling over the measures, is a key part of a European Union drive to regain its competitive edge, reduce its industrial decline and stave off hundreds of thousands of job losses.
Beijing’s commerce ministry said on Monday that it had submitted comments to the European Commission on Friday, expressing China’s “serious concerns” regarding the act it called “systemic discrimination”.
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A quick reminder that non-Chinese companies can’t establish a subsidiary in China, they always need a Chinese partner that would then own the majority of the Chinese joint venture. And that’s just one among many other protectionist rules that illustrate how the Chinese Communist Party shields its domestic supply chains, including the use of forced labour.
Let’s not become reliant upon another world power. We’re struggling with the US leverage over us as it is. Adding to this or replacing the US