This excuse could be used by many countries to seize European companies controlling strategic national resources
And which firms in China are controlled by European entities?
European companies have had massive investments in China for decades now.
Many people in the West have no idea what's going on in China. Western brands and investments are all over the place. Half the cars on the streets used to be European or American (and that has only recently changed, due to the rise of EVs).
Yet Europeans and Americans often complain, "Why can't Western companies operate in China?" Excuse me?
> For context, the law that allows this all to happen was passed in 1952 and has never before been used. Interesting parallel here with China recently invoking - for the first time - their own legislation from the 50's to ban rare earth exports for military uses.
I always wondered how the large unified world of Roman Empire with running water and sewer fell apart (and backwards) into multitude of small feudal pieces with no technology to speak of for the 1000 years after Roman Empire. I think our modern civilization is probably at the beginning of similar process.
Let's be real here, a European company wouldn't even have been allowed to buy a Chinese company in China and have the level of control as in this case in the first place.
This is it pretty much, not sure why it took so long to come to this realization. Was it greed that caused a warp in rational and common sense?
Greed sure, but also optics. In the US at least, we love to condemn China for being "communist" and not a real democracy. Remember, for the US, communist has been the number one enemy for a long time. Obviously, we can't do what they do.
But we do what they do, and China isn't even communist.
EU and west finally TRYING to protect their market the way China is doing it all the time. They tax, ban, espionage everything beneficial to their society. China would do it without a blink.
The West has not been trying to protect their market?
What do you thing those wars have been all about?
Oh please take that crackpot stuff to 4chan or something. I can read about both sides of the Gaza conflict just fine in evil Western media. It is quite plain to see (read) that Israel is doing some really bad shit there after an, in the grand scheme of things, "less bad" attack on itself. About the pandemic... yes, mistakes were made. There was a dangerous situation and no one was really sure what to do. It's like so…
Some more context from a dutch news source[0]: The ministry of economic affairs intervened out of a fear that crucial technological skills and capacities will leave the Netherlands and Europe. The ministry stated in a press release[1] that there was a threat of a "knowledge leak" (w/e that means exactly) and a possible threat to the European economy. After this intervention the Dutch government can now stop or revers…
thanks for the context.
any idea what we the rationale/reason to pass that law in the first place? any specific endangered war resource at the time?
50 years of sending all the knowledge to China and now sudden realization that „data is the value”. Work was cheap, but we paid in IP and tech as a whole. It’s great to see how long term is China strategy and how well they execute it. Good luck for us all being „independent”. We can make processors out of attached plastic bottle caps…
It is funny that there are more people blaming China than the shareholders that made trillions of dollars.
I always wondered how the large unified world of Roman Empire with running water and sewer fell apart (and backwards) into multitude of small feudal pieces with no technology to speak of for the 1000 years after Roman Empire. I think our modern civilization is probably at the beginning of similar process.
Aren't you exaggerating it?
I lived in USSR, and know first hand that it means to be separated from common technological space. USSR wasn't that small, especially if one adds Eastern Block, yet it was falling behind the world becoming fully incapable to produce their own comparable computers, cars, etc.. If world get to split into such islands, the speed of technological progress will fall dramatically while social progress may go fully backwards. If you look at some ideologies rising around the world - they are straight medieval, and in many cases only connectedness to outside world has been preventing them from taking over their "islands".
EU and west finally TRYING to protect their market the way China is doing it all the time. They tax, ban, espionage everything beneficial to their society. China would do it without a blink.
“Protect their market” - And yet the U.S. and Europe are richer than ever. It’s hilarious seeing the US oligarchs distracting from the fact that they’ve transferred massive amounts of wealth from the broader society to themselves by blaming every one else. There is a fair argument to protect strategic industries and actions like these are probably needed, but let’s not pretend the “markets” are at risk because of any…
If you think the west will remain the dominant force it has been without access to superior technology in business and metallurgy in military and manufacturing, I’d like some of what you’re smoking