China has become a clean energy powerhouse, overtaking the EU in clean technology research. paper It has been revealed that it was prepared for the European Commission.
“China has caught up with the EU in R&D spending. China's R&D intensity has more than doubled since 2000, while the EU's R&D intensity has increased much more slowly. As a result, China has caught up with the EU in R&D spending. “The US consistently maintained its lead,” says the overview of the EU and China's exposures in trade, investment and technology.
“China is increasingly becoming a world leader in the field of science and innovation, in several key technologies outlined in the 2023 European Commission Recommendation on Key Technology Areas for the Economic Security of the EU. ”, write the authors of the study for the European Commission.
“This adds an additional layer of exposure, potentially deepening risks related to supply chain resilience, critical infrastructure security, and the weaponization of economic dependence and economic coercion.” added.
The study also warned that the EU's exposure to China is becoming increasingly technological.
“China wants to win the global competition for leadership in key technologies that it considers critical to its development and security,” the paper said.
According to the commission's study, “China's dominant position in manufacturing is particularly evident in the field of clean technology.”
The EU is working to protect clean energy production from Chinese competition by taking steps to support the EV, solar and wind industries.
The European Union has been seeking for months to address its dependence on imported technology, especially cheap products from China that are hurting European manufacturers' market share.
For example, the EU's recently announced package for its domestic wind power industry states that lower prices and shorter supply chains due to China's advantages in steel production and raw materials will “significantly reduce the ability of EU companies to compete on a level playing field.” It's a loss,” he said.
Written by Tsvetana Paraskova, Oilprice.com
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