WTO case against China’s tech transfers is expanded by EU

WTO case against China’s tech transfers is expanded by EU

On Thursday, the European bloc had it challenge against China expanded at the WTO over laws it ascertains favor the transfer of technology in such areas as crop seeds and electric vehicles.

The European Commission, overseeing trade policy in the European bloc, told that it was considerably broadening the scope of its WTO clampdown on China.

America, Japan, and the EU have held a bunch of negotiations this year for the purpose of coordinating a war against unfair competition from subsidies, forced technology transfer, state-led enterprises, without directly naming, although hinting at China.  

Just like the European bloc, America has complained to the WTO about China’s policies on intellectual property rights and technology transfer, but also slapped levies on $50 billion of China’s imports to speed up changes.

An EU official told that Brussels had notified its partners of its action, although the challenge didn’t appear to be a joint one.

Eventually, the EU's fresh complaint has to do with Chinese laws regulating the approval of investments for electric cars as well as biotechnology, in addition to the approval of joint ventures within sectors.

As the Commission told, the Chinese laws put requirements on foreign businesses working in this Asian country, contradicting to a commitment not to do so, as a WTO member.

As the Commission explained, the performance requirements make EU companies to transfer technology to China-EU ventures in exchange for the required administrative approvals by the Chinese cabinet.

In return, China repelled that those transfers turn out to be voluntary, and a lot of foreign companies have derived benefits from the work on fresh technologies by R&D centers in the world’s number two economy.

The fresh challenge actually complements a currently existing complaint sent to the WTO in June. It targets some provisions under China’s regulations on import as well as exports of technology having to do with Chinese-foreign equity joint ventures.

 

Similar

CPI Wednesday: the Doomsday for EURUSD and GBPUSD?
CPI Wednesday: the Doomsday for EURUSD and GBPUSD?

Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera