Germany's Weber: European Union should impose a temporary ban on Chinese takeovers
German EU parliamentarian Manfred Weber says he is in favor of declaring a twelve-month ban for Chinese investors who want to buy European firms.
- Weber is a senior German conservative and heads the centre-right EPP grouping in the EU Parliament
- EU should impose a temporary ban on Chinese takeovers of companies that are currently undervalued or have business problems because of the coronavirus crisis
- "We have to see that Chinese companies, partly with the support of state funds, are increasingly trying to buy up European companies that are cheap to acquire or that got into economic difficulties due to the coronavirus crisis"
- EU should react in a coordinated way
- "We have to protect ourselves"
Indicative of rising tensions with China, not just the US.