Germany warns of China 2.0
The CEO of the German Association of Industries expressed concern over the escalating competition with China, describing it as "China Shock 2.0." She emphasized the need for Europe to adopt a flexible strategy that avoids complete rupture with Beijing, while maintaining a rules-based system and developing new defensive mechanisms. This warning comes amid a decline in the competitiveness of German companies, particularly in the automotive sector, against Chinese products backed domestically and sold at low prices across European markets. This situation contrasts with the past when the Chinese market was a major source of German exports, especially after China joined the World Trade Organization in 2001.
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