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Thursday, October 21, 2021

New US-EU Trade and Technology Council is designed to deal with China, experts say

The United States and the European Union (EU) agreed on September 2 to deepen transatlantic cooperation to resolve various trade disputes and key technological issues. Chinese experts say the move is against Chinese rule.

It marks the first meeting of the newly established US-EU Trade and Technology Council (TTC), a group that President Joe Biden launched at the Group of Seven summit in June.

“We stand together to protect our businesses, consumers and workers from unfair trade practices, especially those caused by the non-market economy, which is undermining the world trade system,” the first day of the meeting in Pittsburgh, Pennsylvania, according to a statement issued September 29.

Although there was no direct mention of China in the joint statement, analysts suggested that the TTC was designed to deal with Beijing’s unfair trade practices and to control its hegemonic ambitions.

After joining the World Trade Organization in 2001, the United States and the EU hoped to transform China into a market economy, but things did not work out that way, said Cheng Chin-mo, chairman of the Department of Global Politics and Economics at Taiwan.

Cheng said China’s regime has taken advantage of the free market – usually through inadequate trade practices such as internal subsidies and discriminatory asset theft and dumping – to boost its economy and technological advancement.

In order to build itself as an influential player, the Chinese regime has built relationships in Europe to “weaken and divide” the Western alliances that perpetuate relations. These include launching a “17 + 1” platform to strengthen cooperation with EU members in Central and Eastern Europe, and investing or buying businesses across Europe through state-owned or state-controlled companies.

Lee Yau-Turn, a professor at the Graduate Institute of Development Studies at Taiwan’s National Chengchi University, said Westerners are concerned about Beijing’s increasingly aggressive behavior because it refuses to play by international rules and follow fair economic practices.

Li said the meeting of democratic allies was part of an unified front against China’s regime, especially in the area of ​​technology.

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On Wednesday, senior cabinet officials in Washington and Brussels pledged cooperation on trade issues, including screening for foreign investment, maintaining export controls and tackling the global shortage of semiconductors. The teams also said they would develop “innovative and reliable” artificial intelligence (AI) technology.

Su Tu-yun, a senior analyst at Taiwan’s state-funded institute, said that by setting common trade and technology standards, both sides could aim at Beijing’s ambitious industrial strategies, such as “China Standards 2035” and “Made in China 2025”. Defense and safety research. The two national plans serve as the guiding framework that drives Beijing’s aggressive economic and technological practice.

Under the “Made in China 2025” initiative, China’s goal is to achieve self-sufficiency in 10 high-tech sectors by 2025. The plan was scrutinized more deeply during the Trump administration’s trade war, which led Beijing to ignore the importance of the initiative. Analysts, however, say the plan is still being implemented.

At a meeting held at the state-run Chinese Academy of Engineering, Beijing launched China’s “China Standards 20355” in March 2011. The plan aims to dominate new technologies for China, including AI, Big Data and IoT (Internet of Things), improve the quality of technology and export to international markets.

The two plans pose a threat to the free world, Suu Kyi said, pointing to security risks posed by Chinese technology that the ruling class could use to disrupt intelligence or critical infrastructure around the world.

In recent years, the United States and its allies have been increasingly wary of security related to Chinese software and hardware, from popular video app Tiktok to telecom equipment provider Huawei. Critics say these companies ultimately look to the Chinese Communist Party and are thus unable to prevent their technology from being misused by Beijing.

“This is a new Cold War,” he said, adding that the “ideological war” between the free world and Chinese rule is an “inevitable” situation.

Luo Ya and Frank Frank contributed to this report.

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This News Originally From – The Epoch Times

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