EU, China Launch New Trade Platform as Volkswagen Weighs 100,000 Job Cuts
Updated
Updated · South China Morning Post · Jun 29
EU, China Launch New Trade Platform as Volkswagen Weighs 100,000 Job Cuts
3 articles · Updated · South China Morning Post · Jun 29
Summary
Brussels will open a new EU-China trade and investment consultation platform on Monday as trade chief Maros Sefcovic meets Chinese Commerce Minister Wang Wentao amid worsening tensions.
EU officials see the channel less as a path to a grand bargain than a way to manage disputes driven by what Europe calls China’s overcapacity-led model undercutting its industries.
Volkswagen’s reported plan to cut up to 100,000 jobs sharpened the urgency in Brussels, reinforcing fears of a fresh “China shock” hitting Europe’s manufacturing base.
Senior EU officials increasingly say Europe must adapt to living with Beijing’s economic model rather than expect China to change, pointing to a tougher, more defensive trade stance.