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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (1179)10/31/2003 12:11:46 AM
From: RealMuLan  Read Replies (1) of 6370
 
China and India back EU's space race against US
By Ambrose Evans-Pritchard in Brussels
(Filed: 31/10/2003)

Two rising Asian powers yesterday backed Europe's bid to challenge American supremacy in space.

Despite intense objections from Washington, China will invest £140 million in the European Union's Galileo global satellite system, a network of 30 orbiting satellites designed to open up a lucrative field of high technology and support industries that require pinpoint accuracy.

India is to invest £210 million in the scheme, Loyola de Palacio, the EU's transport commissioner, said yesterday.

telegraph.co.uk
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