Trade tensions between Europe and Beijing are expected to increase as China's ability to manufacture more cheaply in strategic industries grows, according to the president of the European Union Chamber of Commerce in China.
Trade tensions between Europe and Beijing will likely escalate due to China 's growing ability to manufacture more cheaply in strategic industries, according to Jens Eskelund, president of the Europe an Union Chamber of Commerce in China . He said the chamber was seeing"overcapacity across the board," whether in chemicals, metals or electric vehicles ."I've met very few companies that do not face it," he said.
Eskelund was speaking at a media briefing for the chamber's report, co-authored with consultancy China Macro Group and released Wednesday, on the growing political risks for European businesses in China. BEIJING — Trade tensions between Europe and Beijing will likely escalate due to China's growing ability to manufacture more cheaply in strategic industries, according to Jens Eskelund, president of the European Union Chamber of Commerce in China. "What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "Europe cannot just accept that strategically viable industries constituting the European industrial base are being priced out of the market," Eskelund said."That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet."as a way to boost technological self-sufficiency and wean the economy off its reliance on real estate for growth. Investment and state financial support for manufacturing have gone up, while that for property has droppe
Trade Tensions Europe Beijing China Manufacturing Strategic Industries Overcapacity Chemicals Metals Electric Vehicles Political Risks European Businesses
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