European industry faces crisis from Chinese competition

European industry leaders are warning of a potential economic collapse if the continent cannot protect its manufacturing base from Chinese competition. Francisco Riberas, president of Gestamp, stated that the automotive industry serves as an anchor for sectors such as steel, aluminum, glass, and chemicals. He noted that European car production accounts for approximately 7% of the continent's GDP and supports nearly 14 million jobs.

Simultaneously, the organization Eurometal has warned that Europe could lose an additional 300,000 industrial jobs by the end of the year without intervention from Brussels. Eurometal representatives have accused China of attempting to colonize European industry by dominating essential component supply chains. They argue that Beijing's strategy aims to move beyond being a raw material supplier to controlling the production of finished goods.

To highlight these concerns, Eurometal planned a protest at the European Commission headquarters in Brussels, using symbolic coffins inscribed with messages regarding EU competitiveness and industrial jobs. The pressure on European manufacturers is intensifying as China maintains a record trade surplus with the European Union, estimated at approximately one billion euros per day.