UK PM set to take on China with ‘NATO of technology’
As the new prime minister of the UK today, Rishi Sunak looks set to take on China in technology.
This will have implications for the delayed decision on the takeover of Newport Wafer Fab in Wales where negotiations on the ownership are underway.
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“China and the Chinese Communist Party represent the largest threat to Britain and the world’s security and prosperity this century,” said Sunak back in July as part of the recent competition for the leadership of the Conservative party in the UK.
“I will build a new international alliance of free nations to tackle Chinese cyber-threats and share best practice in technology security,” he added, calling this a Nato of technology.
This followed speeches by the heads of MI5 and the US FBI on the threat posed by China.
“I will expand MI5’s reach to provide greater support to British businesses and universities to counter Chinese industrial espionage. We’ll work across government and with security services to build a toolkit to help companies protect their intellectual property,” he said.
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The key for the Newport deal by Nexperia of the Netherlands, a subsidiary of Wingtech Technology in China, is his view on acquisitions.
“I will protect key British assets. That means examining the need to prevent Chinese acquisitions of key British assets including strategically sensitive tech firms,” he said.
This will be one of the most significant issues facing the new secretary of state for business, Grant Shapps, in the coming days.
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