Europe Chart Of The Week: Tough Going

This report examines the 'Second China Shock' and its impact on European competitiveness, noting that China now competes directly with Europe in high-value sectors like autos and machinery.

Key Takeaways

• 1.Europe is facing a 'Second China Shock' characterized by direct competition in complex product markets like EVs and machinery, unlike the first shock focused on low value-added goods.
• 2.EU export competitiveness is declining in areas where it previously held advantages, particularly cars and pharmaceuticals, while Chinese imports have risen sharply.

Table of Contents

• Tough going: Europe’s increasingly direct competition from China
• The EU needs a comprehensive strategy to respond to these emerging concerns

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