The European Commission chief said she was “convinced that if the competition is fair” from China, then Europe “will have thriving durable economies”. But she said the “imbalances” caused by state support for Chinese industry leading to cut-cost products threatened jobs in Europe, and that was “a matter of great concern”. “Europe will not waver from making tough decisions needed to protect its economy and security,” she said.
Only that’s part of the story. China’s trade war with the US and their own domestic economic downturn has them looking for other markets to dump their excess goods (electric cars, etc.).
The EU is their only lifeline right now. If they get into a trade war the China will have nowhere to dump their goods except for Africa and South America. Those markets are not nearly as lucrative or built out.
I’m sorry, their downturn? China’s economy grew 5.2% in 2023.