EU nixes deal to create rail giant able to stand up to China


Category: China

European Union authorities on Wednesday blocked a deal to create a rail giant that could compete with China, angering France and Germany so much that they vowed to change the way the EU oversees such mergers. The decision raised thorny questions of how to stand up to the growing economic might of China, where the government has no qualms creating state-backed monopolies with the power to strike deals around the world.

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