The European Commission recently hosted a conference in Brussels to address concerns about overcapacity in China’s economy and its potential impact on Europe. The discussions focused on decades of overinvestment, state subsidies, weak domestic consumption, and declining corporate profits in China. These factors, combined with the ongoing trade tensions, have led to fears that Europe could become a dumping ground for China’s excess industrial output. This situation poses risks to European industries, including manufacturing and renewable energy sectors, potentially resulting in significant job losses. European leaders argue that Beijing should address these issues to avoid a backlash similar to what has been seen in the United States. During the forum, participants debated various economic terms, seeking solutions to mitigate the challenges posed by global overcapacity.
— new from South China Morning Post
