Europe Bolsters Economic Security Intelligence to Counter China
European governments are stepping up efforts to bolster their economic security intelligence, aiming to bridge the information gap with China. The EU and several member states are creating legal frameworks for enhanced data access and sharing between companies and governments, inspired by Japan's 2024 Act on the Protection and Utilization of Critical Economic Security Information.
China's dominance in certain goods has led European companies to willingly provide detailed information to obtain approvals, giving Chinese authorities a comprehensive picture of Western corporate vulnerabilities. To counter this, European policymakers are considering the 'carbon copy' principle, where companies share documentation provided to the Chinese Ministry of Commerce with their own governments.
The EU Data Act, set to come into force on September 12, 2025, will allow public authorities to request data from companies in exceptional cases, supporting economic and security intelligence cooperation. This aligns with the EU's overhaul of its economic security strategy by the end of 2025, with improving intelligence gathering and sharing being a key consideration. Germany is also working on similar overhauls to enhance its economic intelligence capabilities.
By establishing a regulatory basis for sensitive data sharing and identifying low-cost, low-bureaucracy efforts, Europe aims to improve its understanding of its own vulnerabilities. This proactive approach seeks to address the risk of falling behind China in economic intelligence, ensuring a more balanced playing field in global trade.
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