The head of the European Union Chamber of Commerce in China, Jens Eskelund, warned that European manufacturers might abandon competition with China by 2030 if current trends persist. He suggested that European firms may need to integrate into Chinese supply chains rather than compete directly, as the EU faces significant trade deficits and job loss concerns.
Eskelund highlighted that many European companies are adapting by shifting their focus from serving the Chinese market to becoming part of a global supply chain that includes Chinese firms. This change reflects a broader trend in which European industries, particularly automotive and chemicals, are feeling the pressure from Chinese competition.