Fears of new China shock as EU industry’s reliance on imports grows (opens in new tab)

submitted by MicroWave to world2 points | 0 comments volume of components imported from China prompts warning of cannibalisation of European industries Europe is facing a fresh China shock that threatens to cannibalise local factories, leading to job losses and de facto colonisation of industry by Beijing, trade analysts and representatives have said. They fear the plunging exchange rate and support for Chinese “zombie firms” has echoes of the crisis in the US 25 years ago when the term “Chin...