Key Points

  • The European Union is going to strike a cooperation deal with Japan in a bid to further the plans on de-risking from China.
  • E.U. Commissioner Thierry Breton is meeting with representatives of the Japanese government to discuss A.I. and computer microchips

The European Union (E.U.) is pushing its plans to de-risk China’s global supply chain by onboarding Japan as a partner in A.I. and microchip developments. E.U. Commissioner Thierry Breton confirmed these developments on Twitter, revealing his July 3rd meeting with the Japanese government

E.U. seeks out Japan as China’s replacement in A.I. and Chips markets

On Sunday, Breton posted a video on Twitter saying that today’s meeting with the Japanese government would weigh more on cooperation with the E.U. for Artificial Intelligence and micro-chips industries. 

“I will engage with [the] Japanese government … on how we can organize our digital space, including A.I. based on our shared value,” Breton said

He also added that an EU-Japan Digital Partnership council would discuss areas like quantum computing. The European Union has been increasing efforts on this front as it even had a similar meeting with South Korea last week, which saw the two sides agreeing on cooperating on technologies like A.I. and cybersecurity.

In an interview with Reuters, he explained that the E.U. and Japan would cooperate in the semi-conductors field. He stated that Japan is a key country in the semiconductor supply chain and has been looking for new partnerships, which makes it a great fit with the bloc. The E.U. has also been looking to strengthen its semi-conductors industry as they are vital in all hardware-reliant technologies.

At the same time, the U.S. has been increasing efforts to cut off its reliance on China‘s global supply chains, like semiconductors. It is also convincing its allies to join its course of action. Keep watching Fintech Express for more updates on this and other FinTech-related developments.