French report warns China's industrial rise is overwhelming European manufacturing
By
Bastien Bonnefous, Isabelle Chaperon, Sophie Fay
28d ago· 2 min readenNews
Summary
A French government advisory body warns that China has evolved from a low-cost manufacturing hub into a major technological and industrial rival that is now "crushing" European industry, particularly in France and Germany. The report highlights how European industries underestimated China's capacity for innovation while hoping to profit from its domestic market, and now face a formidable competitor that has overtaken most major Western industrial heavyweights in just a few decades.
Source
bskyFrench report warns China's industrial rise is overwhelming European manufacturinglemonde.frKey quotes
· 3 pulledThe Chinese 'steamroller,' it said, was crushing the European industrial sector, particularly in France and Germany.
China no longer only competes in traditional labor-intensive industries, such as textiles or low-end consumer goods, as it did
In just a few decades, China has gone from being the world's factory to a major technological rival for Europeans, who had hoped to profit on China's vast domestic market but underestimated its capacity for innovation.
'How China is Devouring Europe' (1/4). In just a few decades, China has gone from being the world's factory to a major technological rival for Europeans, who had hoped to profit on China's vast domestic market but underestimated its capacity for innovatio
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