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I believe we were talking about trade and tariffs, so the same problem that the EU would see in this context is that Chinese manufacturing is generally better a
by ericmay 2y ago
I believe we were talking about trade and tariffs, so the same problem that the EU would see in this context is that Chinese manufacturing is generally better and cheaper than what western nations currently do, so the EU will have to maintain current protectionist policies or enact further trade restrictions with China or risk losing jobs to cheaper and better products from China. Germany is going to protect its auto industry, for example.
- TheOtherHobbes 2y agoEurope specialises in high-value manufacturing - aerospace, precision tools and machinery, some pharma. China has been trying to enter those markets, but not with great success. China is much better at components, consumer items, and mid-weight machinery. The EU also sells a lot of food, including staples like pasta, and also niche/prestige branded foods, some with localised brand name protection. (Like balsamic vinegar from Modena.) They're not really competing markets. The auto industry is one of the few sectors with direct competition, and the EU is working on setting minimum prices instead of tariffs.
- ericmay 2y agoNot great success yet. But sure, hopefully the EU and China can work out a great trade deal that works for them since they're not as you say competing markets, and everyone but America wins. That sounds great to me.