Europe Urged to Take Stronger Stance on China Trade Amid Semiconductor Tensions
Bundesbank President Joachim Nagel has called for Europe to adopt a more assertive trade approach toward China, emphasizing the continent's economic strength. "China needs Europe more than Europe needs China," Nagel stated, highlighting Europe's 450-million-strong consumer base. The remarks come as Chinese exporters flood European markets with subsidized goods, undercutting local manufacturers.
Trade tensions escalated this week as the Dutch government seized Nexperia, a semiconductor firm owned by China's Wingtech, citing national security concerns. The MOVE reverses a 2017 acquisition and reflects growing Western resistance to Chinese technological expansion. Rare earth export controls from Beijing further complicate the economic standoff, creating supply chain vulnerabilities for European tech and defense industries.
