Europe’s phoney war with China is at an end. After years of building up an improved arsenal for a trade war, Europe is now showing it is willing to get tough on Beijing.
On Tuesday, EU investigators swooped on the Dutch and Polish offices of Nuctech, a maker of security scanners, in a case that hinges on one of Europe’s longest running grievances with China — lavish state subsidies that help Chinese firms undercut European rivals.
Nuctech was once run by Hu Haifeng, son of President Xi Jinping’s predecessor, Hu Jintao, and China’s reaction was predictably seething. The raid “highlights the further deterioration of the EU’s business environment and sends an extremely negative signal to all foreign companies,” China’s mission to the EU fumed.
The timing of such an inflammatory raid seems significant, ahead of a trip to Europe by Xi next month — his first in five years, taking him to France, Serbia and Hungary — marking a definitive shift in the way that Europe is prepared to tackle its trade problems with China.
Trade and cheap manufacturing/materials respectively. That’s the simple version anyway.
No wait, your problem is xi is flooding the market with cheap homework so there’s no point in anyone else doing it. It’s easier to just use his that he’s practically giving away leading to everyone being dumb.
You want to… er… do your own homework so you can grow up strong and clever.
Ok no sorry I think the analogy is just wrong :)
I prefer the term “oversimplified”.