EU cyber plan barring Chinese suppliers will cost US$430 billion: report

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South China Morning Post

The European Union’s push to bar Chinese suppliers from its critical infrastructure under a proposed new Cybersecurity Act would cost the bloc a jaw-dropping 367.8 billion (US431.4 billion) over the next five years, a new study has warned. The law’s vast price tag comes from the need to rip out and replace huge amounts of Chinese hardware – a task that alone could cost 146.2 billion – with other losses stemming from resource reallocation, service disruptions, employment adjustments and legal...