Greek PM Kyriakos Mitsotakis warns that Europe must take decisive action to protect its manufacturing base from being flooded by Chinese goods, noting that China accounts for 30% of global manufacturing and could threaten millions of European jobs in critical sectors.
"Finally, when you look at China, important decisions need to be taken when it comes to the survival of our manufacturing base in Europe. I'm not in favor of protectionism per se, and many of the problems of European competitiveness are not related to China, but one cannot ignore the fact that China currently accounts for 30% of the world's manufacturing capability and 14% of the world's economy. So we cannot afford, especially for critical sectors where we retain a competitive advantage, to be flooded by Chinese goods that will eventually result in hundreds of thousands or millions of jobs being lost in Europe."
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Greek PM Kyriakos Mitsotakis warns that Europe must take decisive action to protect its manufacturing base from being flooded by Chinese goods, noting that China accounts for 30% of global manufacturing and could threaten millions of European jobs in critical sectors.