EU manufacturers could give up on competing with China by 2030, warns commerce chief

Jens Eskelund, head of the European Union Chamber of Commerce in China, warns that European manufacturers may abandon attempts to compete with Chinese firms by the end of the decade if current trends persist. He argues that the risk of mass job losses could force European companies to join Chinese supply chains rather than fight them. Eskelund suggests a shift in mindset, from “Made in China for China” to “Made in China for the world,” as a potential strategy for European firms operating in China.

Jens Eskelund says Europe may need to allow its companies to become part of Chinese firms’ supply chainsEurope’s manufacturers could give up on attempting to compete with their Chinese counterparts by the end of the decade if current trends continue amid fears over mass job losses, the head of the European Union Chamber of Commerce in China has warned.In a case of “if you can’t beat them, join them”, Jens Eskelund said European companies operating in China were now thinking “Made in China for China” could be replaced by a philosophy of “Made in China for the world”. Continue reading...