Concerned about mounting geopolitical risks, the European Union on Wednesday unveiled a series of steps to bolster the 27-member bloc¡¯s economic security as it seeks to reduce reliance on countries such as China and Russia while protecting key sectors and emerging technologies.
The , which could take years to implement, are seen as largely targeting the EU¡¯s ¡°systemic rival,¡± Beijing, as they could limit Chinese investments and access to key areas, in line with a strategy championed by Washington.
Although the economic security package is ¡°country agnostic,¡± it is ¡°closely tied to the ongoing debate on the impact of China¡¯s industrial policy on the EU and Beijing¡¯s increased use of economic coercion to exert pressure on third countries,¡± said Alicja Bachulska, a policy fellow at the European Council on Foreign Relations.
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