Thu. Jun 13th, 2024

China is “killing” the economy of the EU and Great Britain: analysts call for an immediate response

Natasha Kumar By Natasha Kumar May25,2024

China is 'killing' EU and UK economies: analysts call for immediate response

UK and EU should follow US and impose import restrictions on China. Otherwise, local manufacturers will simply disappear from the business map.

China threatens the most powerful markets

US introduces “anti-China tariffs” to protect local producers and reduce the economic influence of the communist country. Analysts are convinced that the UK and the EU need to follow suit as soon as possible.

Already, the flow of cheap cars, batteries and environmentally friendly components from China poses a threat to local manufacturers. Some believe that China has already dealt the death blow to EU solar power by copying the technology and capturing all the local markets.

Chinese companies cannot make a profit inside their own depressed economy, so they are desperately looking for foreign markets. Many of them have large debts, so they are ready to offer a favorable price and large volumes, if only to stay afloat.

US President Joe Biden has already declared that he will not allow Chinese electric cars to flood the local market.

The Chinese Communist Party's strategy has resulted in China producing 31% of the world's manufactured goods. If we take into account that it has not moved to a consumer economy, this deformed model has become a threat to the most powerful markets in the world.

Western countries were sure that the “tsunami” of Chinese goods would pass, but the situation is not developing at all. . And the only way that remains – this is the introduction of import tariffs on Chinese goods to even out the situation somehow.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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