European Union unveils plan to cut dependency on China
The Hindu
Six other foreign suppliers to be cut off.
The European Union (EU) unveiled on Wednesday a plan to cut its dependency on Chinese and other foreign suppliers in six strategic areas like raw materials, pharmaceutical ingredients and semiconductors after the pandemic-induced economic slump. The 27-nation bloc outlined the urgency of the task citing Europe’s reliance on China for about half of 137 products used in sensitive ecosystems, mainly raw materials, pharmaceuticals and other products key to its green and digital goals.More Related News