As the CCP virus ravages Europe, Chinese competitors are taking the opportunity to acquire and control important high-tech companies in Europe and obtain key technologies. The European Union and the United Kingdom are on alert.
The Chinese state-backed owners of Imagination Technologies have committed to keeping the company headquartered in the UK, amidst a row over the company’s efforts to take control of Imagination’s board of directors.
Imagination Technologies Group plc is a global semiconductor and software design company, owned by China’s Canyon Bridge Capital Partners.
As the CCP virus pandemic continues, many European companies face a sharp economic downturn and declining stock levels. There are concerns that Chinese rival companies will take the opportunity to bid for these key enterprises.
John Lee, a Senior Fellow at the Hudson Institute said, “On restricting Chinese access to know-how and innovation, it clearly needed to be in better coordination with Europe because Europe is the primary source of technological know-how leakage to China in the world.”
concerns about Beijing’s response to the virus and the UK’s relationship with the country. They are calling for tighter controls over high-tech and other strategic industries to protect UK’s intelligence and industry.
“European countries should buy stakes in companies to stave off the threat of Chinese takeovers,” the EU competition chief Margrethe Vestager said, “There is a real risk that businesses that are vulnerable can be the object of a takeover.”
Senior Fellow at Hudson Institute John Lee: “Covid-19 has significantly changed, or is changing European views on China, now more appetite in Europe to consider harder industrial policies against China, and more cooperation on the mistreated entity list between the United States and Europe.”
#CCPvirus #Wuhan #Coronavirus#COVID-19
——————
SUBSCRIBE OUR CHANNEL TODAY:
🔔https://bit.ly/EpochSubs

——————
Get the latest updates as well as exclusive reporting and first-hand videos about the CCP virus from The Epoch Times website.
▶️ https://ift.tt/3dmii9p
——————
SUBSCRIBE TO THE EPOCH TIMES
Print subscription (delivery inside the U.S only):
https://ift.tt/2yubTJA
View on YouTube