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Business group: China’s tech self-reliance plans hurt growth

KEYT

By JOE McDONALD
AP Business Writer

BEIJING (AP) — A foreign business group in China says the ruling Communist Party’s campaign to tighten control over China’s industries and reduce use of foreign technology is denting its economic growth. The European Union Chamber of Commerce in China appealed to Beijing to reverse course and open state-dominated markets wider. The Chamber’s report adds to warnings about the costs of Beijing’s strategy at a time when economic growth is in long-term decline and the workforce is aging and shrinking. The ruling party’s plans are straining relations with Washington and other governments that complain they violate its trade commitments.

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The Associated Press

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