Why the West fears massive job losses because of China’s clean tech prowess

The European Union has launched investigations into China’s trade practices in sectors such as electric vehicles.SINGAPORE: In recent weeks, leaders of the United States, France, Germany and other G7 countries have sounded the alarm bells about overcapacity in the Chinese economy in three areas: electric vehicles , solar panels and batteries.

• This January, automotive supplier Bosch said it would cut 1,200 jobs in its software development division by the end of 2026. It is in this context that we can understand why French President Emmanuel Macron, German Chancellor Olaf Scholz and European Commission President Ursula von der Leyen raised the overcapacity issue in their meetings with Xi in the last two months.

He won that election. And on his presidential campaign trail this year, the China factor features again.As US President Joe Biden, Secretary of State Antony Blinken and Treasury Secretary Janet Yellen also raise the overcapacity issue, some economists warn of another impending China shock, this time in advanced manufacturing sectors.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China opens tit-for-tat anti-dumping probe into European porkBEIJING: China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »