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How Can Europe Compete with China? Time Is Running Out
Description
Europe is becoming a central battleground in the global contest over economic security. As the US and China de-risk from one another, the EU is under growing pressure to defend its market, reduce strategic dependencies and decide how far it is willing to go in confronting Beijing.
In this episode, Wojciech Przybylski speaks with Camille Boullenois, Associate Director at Rhodium Group, who argues that Europe is far from powerless. Its market size and control over key high-tech inputs give it substantial leverage, but that leverage will matter only if European governments are prepared to use it.
How far should Europe go in de-risking from China? And is Europe ready to bear the political and economic costs of a more assertive strategy? Listen to the episode.
(00:00) Introduction
(02:00) Trump, Xi and the US–China relationship
(05:55) Economic warfare and Europe’s role
(08:35) Why Europe matters for global de-risking
(12:50) China’s real GDP, slowing economy and rising exports
(14:20) Did the SOTEU deliver on Europe’s China strategy?
(17:22) How can Europe protect its industries from China?
(19:00) Can economic tools change countries’ behaviour?
(20:20) Where should Europe start using its economic toolbox?
(23:03) Does Europe have the political will?
(24:28) What to expect from Šefčovič’s visit to Beijing
(28:23) Germany’s position on China