The Strategist

China accused of stealing technology for world domination

07/19/2021 - 03:53

China has been accused of using unfair methods on its way to "world domination". According to CNBC, this was stated by one of its members, Iain Duncan Smith, former leader of the Conservative Party, during his speech in the British Parliament.

In his opinion, Beijing is going to achieve world domination in the sphere of semiconductors production and uses dishonest methods for this purpose.

He believes that the country is "stealing technology, taking other people's rights to intellectual property and buying companies".

The sanctions were previously imposed by Beijing against Duncan Smith over allegations against the country.

The occasion for such a harsh statement from the MP was the situation with the purchase of the British company Newport Wafer Fab. It is the largest chipmaker in the UK.

The intention to buy the British company was announced by Nexperia on 5 July. The production operates in the Netherlands but is owned by Chinese owners. The British government initially announced an investigation into the deal out of national security concerns. But it later said it had no plans to intervene.