Seeking security

The EU is releasing a plan today that identifies risks to the bloc’s security and possibly calls for greater control over key technology exports. [View in browser]( [Bloomberg]( The European Union seems agreed on the need to strengthen oversight on critical technologies, edging closer to the US strategy of avoiding an over-dependence on China and curtailing the advance of Beijing’s military capabilities. That’s the easy part. Figuring out how to implement that — relatively quickly — is a far more complex matter. Key Reading: [EU to Focus on Export Controls, Critical Tech in Security Plan]( [Macron Urges Europe to Think Twice Before Buying Non-EU Defense]( [Chinese Premier Tells German CEOs to Take Lead on De-risking]( [EU Readies €50 Billion Ukraine Package Ahead of Donor Summit]( The 27-nation bloc’s executive arm will release a plan later today that identifies risks to the EU’s security and possibly calls for greater control over key technology exports, decides where it’s vulnerable — such as in raw materials, advanced semiconductors and car batteries — and ramps up investments in strategic areas. One obstacle is the structure of the EU: Each member generally has the final word on its own security issues. That could leave the door open to having one country ban an export or investment that others don’t and give the bloc’s rivals a chance to play one member off against another. Just last night, Chinese Premier Li Qiang used a visit to Berlin to appeal to German companies to take the lead on so-called de-risking (reducing dependence), attempting to drive a wedge between executives and the more hawkish government. The same danger concerns an uncoordinated policy on investment into the EU, especially toward critical infrastructure and R&D, that could open up vulnerabilities for all. Fresh in the mind is Germany’s dependence on Russian energy supplies, a policy that left the bloc scrambling to diversify after President Vladimir Putin decided to invade Ukraine. Many European firms want to continue to sell into China’s massive market, and the EU as a whole relies on Beijing for key supplies. Hence the call for “de-risking” rather than “de-coupling.” And others, such as the French, are particularly wary of simply relying on the US. But the complications are particularly deep when it comes to China. There, civil and military developments are blurred, on so-called enabling technologies with increasing military implications such as quantum computing, artificial intelligence, semiconductors, and biotech. While finding the right balance with this myriad of factors won’t be easy, Europe is making a start. — [Karl Maier]( Li in Berlin today. Photographer: Liesa Johannssen-Koppitz/Bloomberg Check out the latest [Washington Edition newsletter](. You can [sign up]( to get it in your inbox every weekday. And if you are enjoying this newsletter, sign up [here](. Global Headlines Ukraine hasn’t yet used new [assault brigades]( in its counteroffensive as troops advance across parts of the front line against Russia, President Volodymyr Zelenskiy said in a video address. Some of the most potent military units are “waiting for their hour” to join the fight, while Kyiv’s military hasn’t lost any positions in areas seeing an increase in Russian attacks, he said. - Germany’s [population]( grew the most last year since reunification more than three decades ago, due to net immigration “mainly caused" by refugees from Ukraine, the country’s statistics office said. President Joe Biden praised his own foreign-policy experience as [the equal]( of anyone, including veteran diplomat Henry Kissinger, at a fundraiser in California yesterday. Biden, 80, said one of the benefits of serving in public office for so long was that he’d been able to meet virtually every world leader. He told reporters there’d been progress in restoring US-China ties after Secretary of State Antony Blinken’s visit to Beijing. - Donald Trump said in a Fox News interview he didn’t [turn over]( presidential records to the National Archives because he was “very busy.” Singapore topped the rankings as the [most expensive]( city in the world for luxury living for the first time as it vies to be a leading global center for the rich. The city-state, ranked fifth in 2022, leapfrogged Shanghai and Hong Kong, according to a report by Swiss wealth manager Julius Baer Group. Joko Widodo is positioning himself to become a [power broker]( in the world’s fourth-most populous nation potentially for decades when he steps down next year after serving his second and final term as Indonesia’s president. While speculation had initially swirled that his allies would seek to change the constitution to help him stay on for another five years, he’s now focused on maintaining influence by having a say in who succeeds him, sources say. Best of Bloomberg Opinion - [Italy’s Not the Economic Basket Case You Thought: Lionel Laurent]( - [To Beat the Heat, Our Homes Need to Be Batteries: David Fickling]( - [America Still Leads But Its Allies Are Uneasy: Niall Ferguson]( Rapidly melting glaciers in Asia’s Hindu Kush Himalayan region — home to the world’s highest mountains — [are threatening the lives]( and livelihoods of as many as 2 billion people by triggering floods, landslides and water shortages, the International Centre for Integrated Mountain Development says in a new study. The cascading effects threaten to upend agriculture, food security, fresh water availability and energy sources, it said. Source: Bloomberg Explainers You Can Use - [EU Climate Chief Fears Green Deal Risks Hit From ‘Culture Wars’]( - [How Nigeria’s Leader Is Shaking Up a Shaky Economy]( - [Get More Sleep If You Want to Be More Creative]( Women in the UK have traditionally been more vulnerable to poverty than the population at large since they are more likely to be in part-time or lower-paid work and often shoulder the bulk of family caring responsibilities. A new report shows that Britain’s struggle to combat inflation is [deepening]( those existing inequalities, as women bear the brunt of the cost—of-living crisis. - Read how the UK [dropped]( down global competitiveness rankings as business leaders lost confidence in the country and its government. Tune in to Bloomberg TV’s Balance of Power at 5pm to 6pm ET weekdays with Washington correspondents [Annmarie Hordern]( and [Joe Mathieu](. You can watch and listen on Bloomberg channels and online [here](. News to Note - Migration and Europe’s relationship with China will be [at the center of talks]( today when French President Emmanuel Macron hosts Italian Prime Minister Giorgia Meloni. - Surging violence in eastern Democratic Republic of Congo and tensions with neighboring Rwanda could [further destabilize]( the resource-rich country as it prepares for elections in December, a United Nations group of experts said. - Poland’s ruling party shook up its campaign team four months ahead of an election as it struggles to build [a decisive lead]( over the opposition. - Sudan received pledges of $1.5 billion yesterday for the estimated 25 million people in need of aid in [the wake of fighting]( between the army and a militia group. - China and Cuba are discussing building [a joint military training facility](, the Wall Street Journal said in a report that comes after the White House alleged Beijing has a spy base on the island. And finally … In Port Sudan’s heyday, nightclubs pumped out beats, alcohol was authorized and shipping tycoons from Greece and Turkey rubbed shoulders with traders from India, Yemen and Egypt. Mohammed Alamin and Simon Marks report that the city on Sudan’s Red Sea coastline looks quite different now as [a haven]( to tens of thousands of refugees fleeing the war between the Sudanese Army and the Rapid Support Forces. Many are sleeping in makeshift shelters inside an amusement park, schools, mosques and on the roadside. People fleeing Sudan queue to board a boat from Port Sudan on April 28. Photographer: AFP/Getty Images Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Balance of Power newsletter. 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