EU Wants Power To Block China's Tech Buying

itwbennett writes "In an interview with German daily paper Handelsblatt, the EU's industry commissioner, Antonio Tajani, said he wants the power to block China from buying up European tech companies. Tajani envisions an authority along the same lines as the United States' Committee on Foreign Investment and would determine 'if the acquisition (of a company) with European know-how by a private or public foreign company represented a danger or not.'"

Comments

Considering that they have tied their money ....

[WindBourne]

to the dollar, I say block it. The fact is, that while China belongs to WTO and IMF, they obey NONE of it. It is time for the west to say enough, is enough. China needs to obey the treaties and other legal obligations that they have signed. That includes:

1. allowing their money to float freely(WTO, IMF, and Clinton accord).
2. Quit dumping (WTO, and Clinton Accord).
3. Quit subsidizing all of their state businesses (WTO, IMF, and Clinton Accord).
4. drop trade barriers(WTO, and Clinton Accord).
5. Turn on their pollution control mechanisms (Japanese treaty).
6. Allow rare earth exports (WTO).
7. quit buying up companies and the telling them to either move the company to China or directing that 100% of the goods be transfered to China (WTO).

And that is just for starters.
The fact is, that the west needs to say enough is enough. I support free trade, but not when it is one sided.

Re:China is becoming too powerful

[WindBourne]

Personally, I do not mind if they become #1. I object because they are cheating the whole way and it is obvious that top pols are in a cold war with the west. And yet, of the flower childs running around the west scream give China a chance. I say, let those flower childs (and the GD CEOs that move the jobs there) to MOVE TO CHINA AND STAY THERE.

Re:China is becoming too powerful

[dangitman]

And yet, of the flower childs running around the west scream give China a chance.

Who are you talking about here? The "flower children" are pretty much screaming at China in the name of a Free Tibet and the Dalai Lama. The "give China a chance" crowd are the über corporatist/capitalists.

Let's buy China's companies!

[DNS-and-BIND]

Let's do China one better, and buy its tech companies and loot their assets! What's that you say? China has laws on the books prohibiting the sale or investment of companies which may damage its national interest? Entire industries are restricted? And there are parts of China's economy totally prohibited from any foreign investment whatsoever? Surely Europe and America can trust this country and not apply any reciprocal policies that fuck over China as much as China fucks over foreign firms.