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CHINA CCC. Overt acquisition routes have been welcomed by HMG for economic reasons, regardless of risks to national security. The threat to future prosperity and independence was discounted in favour of current investment. This was short-sighted, and allowed China to develop significant stakes in various UK industries and Critical National Infrastructure.

DDD. Without swift and decisive action, we are on a trajectory for the nightmare scenario where China steals blueprints, sets standards and builds products, exerting political and economic influence at every step. Such prevalence in every part of the supply chain will mean that, in the export of its goods or services, China will have a pliable vehicle through which it can also export its values. This presents a serious commercial challenge, but also has the potential to pose an existential threat to liberal democratic systems.