European companies ‘becoming more reliant on China, not less’, says EU chamber chief

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Europe’s push to reduce its dependence on China is driving many of its companies deeper into Chinese supply chains, according to the head of the European Union Chamber of Commerce in China.“Europe is becoming more dependent on China, not less,” chamber president Jens Eskelund said, adding that for European firms, staying competitive increasingly meant embedding themselves more deeply in the supply chains Brussels wanted them to move away from.He said Europe had fundamentally misread what China...