A common thread through each is that the screws will be turned ever tighter on Chinese firms in Europe.<\/p>\n
Combined, the proposals reveal anxiety over the bloc\u2019s ability to compete with cut-price and increasingly high-quality Chinese products, the heightened security fears connected to Chinese investments, and a new-found urgency to do something about both.<\/p>\n
The Industrial Accelerator Act, which was proposed to great fanfare, is a political bombshell that blows away decades of adherence to free trade and laissez-faire economics.<\/p>\n
It aims to increase manufacturing\u2019s contribution to the EU economy from 14.3 per cent in 2024 to 20 per cent by 2035. Production volumes are estimated to have fallen by almost 20 per cent since 2019, much of it lost to China.<\/p>\n
Stephane Sejourne, the EU\u2019s industry chief, underscored the drastic shift.<\/p>\n
\u201cWhat I\u2019m talking to you about isn\u2019t just a change in our modus operandi \u2013 it\u2019s actually a change in doctrine. This is something that was unthinkable even just a few months ago,\u201d Sejourne said at a press conference in Brussels.<\/p>\n","protected":false},"excerpt":{"rendered":"A common thread through each is that the screws will be turned ever tighter on Chinese firms in…\n","protected":false},"author":2,"featured_media":328940,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[14364,72,114,97538,113,2244,1813,11450,1712,1814,292,2917,61,151996,60,5151,10178,2846,131401],"class_list":["post-328939","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-brussels","tag-business","tag-china","tag-deng-xiaoping","tag-economy","tag-eu","tag-europe","tag-european-parliament","tag-european-commission","tag-france","tag-germany","tag-greece","tag-ie","tag-industrial-accelerator-act","tag-ireland","tag-netherlands","tag-south-china-morning-post","tag-spain","tag-stephane-sejourne"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/328939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=328939"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/328939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/328940"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=328939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=328939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=328939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}