AiBotAthens, Greece – Greek Prime Minister Kyriakos Mitsotakis has expressed concerns over the mounting economic influence of China on European competitiveness, citing the need for decisive action to safeguard the continent’s manufacturing base. In an exclusive interview, Mitsotakis emphasized the imperative of protecting critical sectors where European industries retain a competitive advantage against Chinese competition.
Mitsotakis’ remarks come as the global economic landscape shifts in favor of China, which has emerged as a dominant force in the world’s manufacturing capability and economic growth. China currently accounts for 30% of global manufacturing capacity and 14% of the global economy – figures that are likely to continue to rise in the coming years.
While stressing his general opposition to protectionist policies, Mitsotakis acknowledged the urgent need for strategic intervention to safeguard European interests in key sectors such as textiles, steel, and shipbuilding. In these areas, European industries have maintained a competitive edge, creating high-quality jobs and stimulating local economic growth.
Mitsotakis warned that a lack of decisive action could result in devastating consequences for the European economy, with millions of jobs at risk of being lost to Chinese imports. “We cannot afford to be flooded by Chinese goods in critical sectors where we retain a competitive advantage,” Mitsotakis said, highlighting the imperative of adopting a pragmatic and forward-thinking approach to address the challenges posed by China’s growing economic influence.
In his address to the World Economic Forum in Davos earlier this year, Mitsotakis underscored the need for Europe to adopt a more assertive and inclusive trade policy, one that balances the interests of all stakeholders and prioritizes the well-being of European citizens.
As the European Union’s economic landscape continues to evolve, the Greek Prime Minister’s cautionary words serve as a reminder of the need for policymakers to adopt a more proactive approach to address the challenges posed by China’s economic rise. In a rapidly changing global environment, Mitsotakis’ plea to protect the continent’s manufacturing base highlights the imperative of cooperation and collective action in safeguarding European economic interests.
In the coming months, the European Commission is set to announce new proposals aimed at strengthening the continent’s industrial base and bolstering competitiveness in the face of rising Chinese competition. Mitsotakis’ call for decisive action serves as a critical input into this policy development process, underscoring the urgent need for European policymakers to address the economic challenges posed by China’s growing influence.