The world has become tougher and geopolitical, said European Commission President Ursula von der Leyen during the presentation of the first European strategy for economic security. This strategy, which mainly targets China, sounds like music to the ears of Tom Berendsen, a CDA MEP, who has long called for such strategies.
It argues that economic security is about the resilience of the European economy against the use and misuse of economic assets for geopolitical purposes. “In other words: economic activities used by state actors – one China, one Iran, one Russia – to frustrate our processes or put pressure on us,” Berendsen says.
“Economic security is about the resilience of the European economy against the use and misuse of economic assets for geopolitical purposes”
And this is happening more and more often, warn the AIVD and MIVD intelligence services and the National Coordinator for Counter-Terrorism and Security. “China poses the biggest security threat to Dutch knowledge,” says Berendsen.
Three big risks
According to Berendsen, there are three main areas of risk that Europe could face. “First, you have the continuity of our life processes: energy, healthcare and transportation,” she explains. “Second, you have to think about big strategic dependencies, like Russian gas or lithium for batteries.”
Also, according to Berendsen, unwanted transfer of knowledge and technology, such as ASML machines, should also be considered. Berendsen thinks that if China were to buy those machines, it could produce large-scale advanced chips “that bolster their military might.”
Strategy
Faced with these risks, the European Commission has developed a strategy for discussing economic security with government leaders in the Council. “It’s not a complete strategy yet, but I’m happy with it,” he says. “As rapporteur for industrial policy, I have already asked before addressing the safety issue.”
In October 2022, China’s risks were discussed behind closed doors for three hours and this strategy can be seen as a follow-up, according to Berendsen. “If we believe that China is a threat to our economic security, what measures should we take and what are the risks?”
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
