EU Set to Back Draghi Warnings on Lagging Behind US and China
- Draft report cites effects of unstable geopolitical situation
- EU warns that Chinese exports could harm its manufacturers
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The European Union is set to warn that the integration of the bloc’s single market is slowing down at the same time it’s facing stiffening pressure from major global economies including the US and China, according to a draft report seen by Bloomberg.
In a report outlining the EU’s future challenges to its competitiveness, the EU’s executive arm cited “significant risks arising from increased geopolitical tensions, unfair trade practices and strategic dependencies, to which an open economy like the EU’s is exposed.”