China is rediscovering the EU. Exports there are up while EU manufacturing, mainly Germany, is in decline. Ut oh...
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In conjunction with moves by individual Chinese companies, yuan weakness versus the euro is making Chinese products cheaper than their main competition in South Korea, Taiwan, Singapore and Japan. China exports to Europe are gaining, while the aforementioned foursome is watching their exports to Europe collapse.A Vestas wind turbine in Denmark. China wants to be a huge manufacturer of clean energy technologies. They will own this market. Sorry, Denmark. Sorry Netherlands. Sorry, Germans ....
Sorry, Denmark. China’s probably going to beat you in this one. Your clean energy industry may very well be dependent on China. It’s fine ... if you don’t mind that.A wheel is laced at the KTM Fahrrad bicycle manufacturing facility in Austria. Without tariffs and anti-dumping measures against China, this woman would be unemployed, according to the European Commission.Europe remains the main source of China’s external demand since the trade war went into high gear last September.
Green wrote in a report published July 12 that “Chinese producers are slashing prices and essentially dumping goods into Europe.” Tariffs allowed the EU bike industry to return to “modest yet sustained profits,” according to the March report. Without that action, bike and bike parts manufacturers would have folded, losing out to China due to oversupply and unrivaled scale.In January 2019, the Commission imposed measures against imports of electric bicycles from China. Why? Because the Commission said the Chinese electric bicycle exporters were benefiting from state subsidies.
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