"Germany's foreign ministry wants to take a tougher line on #China and push companies to reduce their dependence on Beijing, while also promoting EU efforts to negotiate an investment agreement with #Taiwan." politico.eu/article/german…
"A 61-page-long draft copy of the upcoming German China Strategy, which is planned to be adopted early next year, warns that the Chinese leadership "is willing and capable" to employ its market "as leverage" to extract concessions from other countries.
The document also criticizes "massive human rights violations" in China's autonomous regions of Tibet and Xinjiang, which is home to the Uyghur Muslim minority."
"We aim to use market-based instruments to change the incentive structure for diversification for German companies so that reducing export dependencies becomes more attractive," the draft text says, ...
... adding that companies "that are particularly exposed to China" should be obliged "to specify and summarize relevant China-related developments and figures" under their disclosure requirements.
"We will examine whether affected companies should carry out regular stress tests in order to identify China-specific risks at an early stage and be able to take remedial action," the document continues.
"According to the text, Germany will also "examine" the possibility of creating a legal basis that would allow the government, or the EU, to scrutinize "security-critical" foreign investments by German or European companies in China — ...
... a measure that could potentially stop companies from transferring critical infrastructure to the People's Republic and thereby increase dependencies."
"Berlin also wants "a better overall European overview of Chinese investments and holdings in critical infrastructure" in Europe, such as harbors.
Moreover, the text also proposes creating EU buyers' cartels for purchasing specific minerals such as rare earths to "strengthen the negotiating position of European companies."
"Additionally, state-backed investment guarantees should be limited to €3 billion per company and face stricter criteria such as respecting environmental standards and labor rights and ensuring no forced labor in the supply chain."
"When issuing export credit guarantees, we will tighten the criteria to prevent unwanted technology transfer," the draft text says.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with William Yang

William Yang Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @WilliamYang120

Nov 24
"Apple supplier Foxconn has apologised for a "technical error" in its payment systems, a day after its iPhone factory in #China was rocked by angry protests." bbc.com/news/business-…
Videos had showed hundreds of workers marching at the world's biggest iPhone factory in the city of Zhengzhou, with complaints over Covid restrictions and claims of overdue pay.

Those livestreaming the protests said workers were beaten by police.
Last month, rising Covid cases saw the factory locked down, prompting some workers to break out and go home. The company then recruited new workers with the promise of generous bonuses.
Read 5 tweets
Nov 23
Scholars and lawmakers in #Taiwan suggested on Tuesday that the government consider reinstating military trials during peacetime or amending laws to better deter military espionage after an Army colonel was indicted Tuesday for working for #China. focustaiwan.tw/politics/20221…
At present, Taiwan's Military Trial Act only applies to active military personnel who commit crimes under the Criminal Code of the Armed Forces during wartime.
Su Tzu-yun (蘇紫雲), a research fellow at the Taiwan government-funded Institute for National Defense and Security Research (INDSR), said military espionage poses a serious threat to national security ...
Read 4 tweets
Nov 23
Many of the world’s largest asset managers and state pension funds are passively investing in companies that have allegedly engaged in the repression of #Uyghur Muslims in #China, according to a new report. theguardian.com/world/2022/nov…
The report found that three major stock indexes provided by MSCI include at least 13 companies that have allegedly used forced labour or been involved in the construction of the surveillance state in China’s Xinjiang region.
“If the average Briton or American realised that hundreds of millions of pounds or billions of pounds were being invested in Chinese technology firms with close ties to the state, they would be outraged,” said Johnny Patterson, an author of the report.
Read 11 tweets
Nov 23
Despite sweeping lockdowns, Covid-19 cases continue to rise across #China. Frustrated citizens are taking big risks to protest the draconian measures. I talked to Chinese people, @Yaqiu and @xcyale about the impact of zero-Covid on Chinese society: dw.com/en/chinas-zero…
There is no end in sight to China's zero-COVID strategy, even as public discontent reaches a fever pitch after almost three years of continuous lockdowns and disruptions to the economy.
And despite authorities' efforts to stamp out the virus, new cases in recent weeks are on an upwards trend. In several cities, millions of people are being confined to their homes.
Read 31 tweets
Nov 23
Workers at Foxconn, the largest supplier for Apple's iPhone, were attacked after protesting living conditions. The company is working within a closed-loop system, in line with #China's restrictive COVID-19 measures. My latest: dw.com/en/protesters-…
Protests over COVID-19 restrictions by workers at Foxconn's iPhone factory in central China were met with violence by security personnel, videos circulating on Chinese social media have shown.
Workers at Foxconn's Zhengzhou factory held protests on the factory campus, where they have had to stay since a closed-loop system was announced to counter the spread of COVID-19 without compromising productivity.
Read 30 tweets
Nov 23
Over the last few days, workers at Foxconn's Zhengzhou iPhone factory have once again staged large-scale protests, and this time, including a clash with police. #China
Media reports suggest that the cause of the latest clash between police and Foxconn workers is caused by newly recruited workers from different parts of #China didn't want to stay in the same dorm with workers who seem to have contracted COVID-19.
As they try to rush out of the factory, they clash with police at the scene. Police have reportedly fired tear gas and even beat up some workers in some instances. Workers reportedly responded by throwing rocks at the police.
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(