Europe is facing a new "China shock" as cheap Chinese goods increasingly flood the bloc amid slowing global demand and the impact of U.S. tariffs, raising concerns over pressure on Europeβs industrial base, particularly in automobiles, machinery and high-tech manufacturing, according to a report on Monday.
Chinese exporters, supported by a weak yuan and state-backed incentives such as low interest rates, are increasingly redirecting production toward overseas markets as domestic demand in China remains weak, according to EU data and industry officials.
This second wave of the China shock, which comes more than two decades after China joined the World Trade Organization (WTO) in 2001, is seen as more damaging than the first because it targets Eur
Continue Reading on Daily Sabah
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.