Europe | Follow the tech

The EU is worried about sensitive exports to competitors and foes

A lot of bureaucracy will ensue

ASML Cleanroom EUV lithography systems
Photograph: ASML

NOT SO LONG ago, the countries that restricted outbound foreign direct investment (FDI) were usually relatively poor ones, driven by a desire to keep cash and know-how at home. That is changing. On January 2nd an executive order passed by the outgoing American president, Joe Biden, to restrict investment in China came into effect. And now the European Union is following suit. Two weeks later, the European Commission unveiled plans to review outward FDI in areas deemed critical for the security of the EU.

This article appeared in the Europe section of the print edition under the headline “Follow the tech”

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