Jens Eskelund, president of the European Chamber in China, warned of a potential “slow-motion train accident” between China and Europe due to rising protectionism, risking a full-blown trade war. He stressed the urgent need for increased dialogue between European and Chinese leaders to prevent unproductive decoupling.
Germany’s Chancellor Olaf Scholz recently conveyed European concerns to Chinese President Xi Jinping regarding Beijing’s investment policies and market access. The EU has launched investigations into whether Chinese manufacturers are dumping subsidized goods in European markets.
Eskelund noted the importance of recent high-level meetings between European and Chinese officials and emphasized China’s significant role in global supply chains as the world’s leading manufacturer. Despite concerns, investors reacted positively to encouraging quarterly results from a German sportswear giant. Meanwhile, thousands of foreign buyers attended China’s largest trade show, the Canton Fair, underscoring the importance of China’s manufacturing scale in global supply chains.
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