The European Union is done being polite about it. Brussels has formally warned that its trade relationship with China has become unsustainable, pointing to a goods trade deficit that has ballooned to roughly €360 billion, or about €1 billion flowing out the door every single day.
EU Trade Commissioner Maros Sefcovic laid out the numbers in stark terms: Chinese exports to Europe surged approximately 50% over the last five years, while EU exports heading the other direction fell by around 30%.
The numbers tell a brutal story
China currently accounts for roughly 30% of global industrial production. That figure is projected to climb to 45% by the end of the decade.
The sectors most exposed read like a list of industries Europe considers strategically vital: electric vehicles, batteries, chemicals, machinery, and steel.
