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EU confronts ‘China shock’ ahead of pivotal Brussels trade talks
South China Morning Post • • world
Key Points:
- Volkswagen is reportedly planning up to 100,000 job cuts due to intense competition from China, highlighting the challenges faced by European companies in the Chinese market.
- EU trade chief Maros Sefcovic is preparing for important talks with Chinese Commerce Minister Wang Wentao to address trade issues.
- The EU and China will launch a new trade and investment consultation platform aimed at improving communication and managing escalating trade tensions.
- European officials acknowledge that China's economic model, characterized by overcapacity, is unlikely to change, and the EU must adapt its own strategies accordingly.
