engleski

The impact of China on European Union industry

The industry is at the core of the European Union growth and development. According to Eurostat, it provides more than 52 million direct and indirect jobs, it represents more than 50% of European exports, and it accounts for approximately 65% of investments in research and development. However, in the future, the EU industry will have to face “megatrends” linked to globalization, climate change, energy transition, fourth industrial revolution and socioeconomic changes. Certainly, there are the threats and opportunities associated to these challenges and the impacts of the above-mentioned megatrends will differ depending on the industrial sector, but also on territorial characteristics. On the other hand, China is rapidly becoming a great industrial competitor and a powerhouse in high-tech and growth sectors. Through the extensive Made in China 2025 strategy, China aims to become a world leader in 10 key industrial sectors. Hence, this paper (i) explores the European Union industry’s position vis-à-vis China’s, (ii) analyses and compares which sectors are dominated by the EU and which sectors are not. The results point to the fact that the EU needs to strengthen its industrial base through intensive coordination to maintain its position.

industry, industrial policy, European Union, China

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