ECONOMY: EU PARLIAMENT, “HOW MUCH CHINA IN THE SINGLE EUROPEAN MARKET?”
(SIR Europe – Brussels) – What is the amount of Chinese capitals in Europe? What is the degree of “invasion” of Chinese products in the single market? How many EU companies are somewhat controlled by Beijing or the biggest Asian economy? Those are the questions posed by a resolution to be debated and voted during the plenary session of the European Parliament, fixed in Strasbourg from 21 to 24 May. The text drawn up by French MEP Marielle de Sarnez says that unlike the United States, 27-state EU “does not exactly know the extent of the economic penetration of China and its investments in European companies or in state securities”. In the global market, it is important information. Therefore, the EU should “provide itself with a mechanism of coordinated control granting preliminary appraisal of foreign strategic investments, following the model of a similar system already operating in the US”. The resolution criticises “lack of institutional framework for trading relation coordination” between the EU and the Asian giant, “above all, taking into consideration the growing trading imbalance”, currently in favour of China. Moreover, it would be necessary to prepare a strategy to avoid “forced transfer of technology” towards the Far East.