Sporkman
February 16th, 2010, 04:45 PM
Beijing's 'Buy China' policy alarms trade partners
Joe Mcdonald, AP Business Writer, On Tuesday February 16, 2010, 10:08 am
BEIJING (AP) -- Beijing says it wants to spur Chinese inventions with a "Buy China" policy that gives preference to domestic technology companies. But the tactic has provoked an outcry from Washington and business groups that say it will choke off access to the massive market for goods from software to clean power equipment.
Foreign companies have been alarmed by the government's announcement it will favor technology developed in China when buying computers and other goods on which it spends billions on each year. The plan, part of a decade-old effort to promote "indigenous innovation," would channel money to Chinese companies and add to pressure on foreign technology creators to shift research work to China and know-how to local partners.
The move reflects Beijing's growing assertiveness as it tries to make Chinese industry more autonomous after depending on foreign money, markets and technology for three decades to drive its economic boom...
http://finance.yahoo.com/news/Beijings-Buy-China-policy-apf-2906094340.html?x=0&.v=1
Joe Mcdonald, AP Business Writer, On Tuesday February 16, 2010, 10:08 am
BEIJING (AP) -- Beijing says it wants to spur Chinese inventions with a "Buy China" policy that gives preference to domestic technology companies. But the tactic has provoked an outcry from Washington and business groups that say it will choke off access to the massive market for goods from software to clean power equipment.
Foreign companies have been alarmed by the government's announcement it will favor technology developed in China when buying computers and other goods on which it spends billions on each year. The plan, part of a decade-old effort to promote "indigenous innovation," would channel money to Chinese companies and add to pressure on foreign technology creators to shift research work to China and know-how to local partners.
The move reflects Beijing's growing assertiveness as it tries to make Chinese industry more autonomous after depending on foreign money, markets and technology for three decades to drive its economic boom...
http://finance.yahoo.com/news/Beijings-Buy-China-policy-apf-2906094340.html?x=0&.v=1