EU Firms Risk Falling Behind China by 2030, Warns Maersk Executive

European manufacturers could fail to compete with Chinese rivals by 2030. Jens Eskelund issued this sharp warning to European Union leaders. He is the head of the EU Chamber of Commerce in China. He also serves as managing director for Danish shipping giant Maersk in China.

The warning comes during a record trade deficit between the EU and China. Eskelund called on EU policymakers to change their current economic strategy. He urged them not to rely solely on new trade barriers. Instead, EU companies should integrate directly into Chinese supply chains.

His dual role at Maersk makes this analysis particularly significant for global trade. It reflects shifting economic dynamics between Europe and China that affect international business. (Source: The Guardian)