UK Parliament committee: China has penetrated all UK economic sectors

By Al Mayadeen English
Source: The Telegraph
13 Jul 2023 21:08

A report by the intelligence and security committee says that China's surge as a global economic power is of great threat to the UK.

In this photo taken on Aug. 25, 2010, a bank clerk counts Chinese 100 Yuan notes in Shanghai. China’s politically sensitive yuan has sunk to a 22-month low against the dollar after the U.S. Treasury declined to label Beijing a currency manipulator amid a mounting tariff battle. (AP)

China has involved itself in all British economic sectors, including universities, a report by the UK Parliament's intelligence and security committee reported.

The committee believes that Chinese investments in the UK pose the "greatest risk" to the UK, as the Chinese intelligence apparatus targets Britain's interests "prolifically and aggressively," seeking to take control of its industrial and civil nuclear energy assets.

The committee alleges that Beijing has been, "particularly effective at using its money and influence to penetrate or buy academia in order to ensure its international narrative is advanced and criticism suppressed."

The committee blasted the government's response to Chinese investment in the UK, saying it was "completely inadequate," and that the country should prioritize security over economic benefit.

"It is clear that China has taken advantage of the policy of successive British governments to boost economic ties between the UK and China, which has enabled it to advance its commercial, science and technology and industrial goals in order to gain a strategic advantage," the report stated.

The committee is chaired by Conservative Party member and Member of Parliament, Julian Lewis.

The rhetoric put out by the committee parallels that of the European and US administrations who constantly criticize foreign investment from surging global players, especially that of Beijing.

This has put China in constant dispute with successive Western governments, as China continues to accumulate market shares and lead in key sectors.

Western countries are put in a predicament, in which their economies and that of China have become intrinsically tied together while undermining national industries and corporations.