Loading Posts...

China Attacked by the EU Ambassador – Tech Transfer Must Stop

China Attacked by the EU Ambassador - Tech Transfer Must Stop

In a bold move that many did not see coming, the EU Ambassador to China clearly stated that “forced tech transfer” must stop. According to this report, European companies now question the practice of compelled transfer of technology in order to gain access to the Chinese market. The EU welcomes any foreign investments conducive to creating jobs and growth. Mr Nicholas Chapus, ambassador of the EU delegation to China said, “for the last 40 years, EU companies have provided most of the foreign tech that is in China, about 50 percent of what is today in China.” However, this EU representative expressed concerns about China offering access to its market in return for technology transfer. Beijing sometimes forces overseas firms to hand over detailed technology blueprints before allowing these firms to sell product in China – now the EU is calling for an end to this practice. The EU leader is calling it “forced tech transfer.”

Chapuis has pushed China and now China has said that it will step up protection of intellectual property rights, but experts say that the state-controlled legal system allows large firms to take secrets that it wants – the practice continues. Mr Chapuis pointed out that the EU wants long-term investment strategies that create jobs and growth. He did point out that the current environment has been one of criticism of globalization, with he admits is growing in Europe and around the world.

He said that he was optimistic that the plans will eventually come to fruition as Beijing knows that reforms are crucial to future growth for China and other countries. The idea of regulated technology transfer is now up front and center and it is clear that many countries are demanding that this practice stops.

Team Classiarius 



The author didnt add any Information to his profile yet

Classarius is the only data driven news for blockchain, cryptocurrencies and technology from investment professionals.
Disclaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.

Classiarius Guest Posts
Classiarius allows guests to write articles on blockchain, finance, and analysis on technology, political risks and crpytocurrencies. You may include links to your previous content in your articles. Write Guest posts
Loading Posts...