European Firms Becoming More Reliant on China, Chamber Head Says
Workers on the production line at a plastic toy factory in Shenzhen, China.
Photographer: Qilai Shen/BloombergEuropean multinationals have become more reliant on China in order to compete, a key business group said, as European Union and Chinese leaders hold a summit to address rising bilateral trade tensions.
“In order to have the best product at the most attractive price, you obviously need to source the components where you get the best components at the most attractive price. And in many, many cases that is here in China,” said Jens Eskelund, president of the European Union Chamber of Commerce in China.