The head of the European Union Chamber of Commerce in China has warned that European manufacturers could stop trying to compete with their Chinese counterparts by the end of the decade if current trends continue. The warning is tied to fears of widespread job losses.
Jens Eskelund said European companies operating in China are now rethinking their approach. Where they once focused on “Made in China for China”, he said, some are considering a model of “Made in China for the world”.
Eskelund suggested Europe may need to let its companies become part of the supply chains of Chinese firms. He described the shift as a case of “if you can’t beat them, join them”.
