Hello from the FT newsroom. Tension has flared up between Europe and China this week over trade suspicions and spy scandals.
Yesterday morning, Brussels used new powers to raid the European offices of Chinese company Nuctech, which manufactures luggage security scanners. The bloc is concerned that Beijing has used subsidies to distort the European market. Meanwhile, China claims the west is trying to suppress its industry and economy.
The raids follow a spate of arrests in Germany of people suspected to be spying for China, including a staffer of the far-right AfD party. German security services told the FT it is just the “tip of the iceberg” in terms of hostile undercover actors. You can read this story for free by downloading our FT Edit app.
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Founder & CEO - Pension Pakistan / Editor: World Trade & Diplomacy Lens
8moThe concept of fair competition in int'l business has shifted, becoming increasingly intertwined with international political motives. While the WTO serves for dispute resolution, preemptive raids and criminalization of suspected areas indicate a departure from fair competition towards market capture through force. This undermines emerging economic powers and tarnishes reputations with unfounded criminal allegations, exposing a double standard where ethics are preached to developing nations but not applied to the powerful.
OK, Boštjan Dolinšek
financier
8moMany of the people who hack all my platforms and stock websites but the Tunisian contact technology minister remains watching without doing anything
Business Development | Content Head | Author | Writer | Storyteller |
8moSporadic showers to cool some... but the Q is "who'll bell the cat"
Digital Marketing Strategist- MCIM / Business & Student Mentor / Social Entrepreneur
8moBlimey & it’s off again, a few weeks ago the EU accused China of flooding Europe with subsidised goods sold below market value. Then Scholz travelled to China a week back whilst it was heating up on questions over the trade practices of Beijing & their “closeness” to Moscow. Then the European Commission’s probe into Chinese suppliers of wind turbines, after investigations into electric cars, trains & state aid for solar panels! This is all surrounding recent calls with Macron & Scholz highlighting the urgency to increase European competitiveness where they’ve looked to deepen pan-European capital markets. TRADE WAR HAPPENING 🤯