EU firms in China accelerating supply chain diversification, report finds By Reuters

Contributing sentiments towards policy:

55% : China's trade surplus topped $1 trillion for the first time in November, as exports to Europe, Australia and Southeast Asia surged in the wake of U.S. tariffs, fuelling diplomatic tensions over unsustainable trade imbalances. Chinese shipments to the United States dropped 29% year-on-year in November, while exports to the EU grew an annual 14.8%.
54% : The European Commission will make proposals next month to bolster EU industry, with requirements to prioritise locally manufactured goods that would reduce its reliance on imports from China.
51% : BEIJING, Dec 10 (Reuters) - European firms are accelerating efforts to diversify away from Chinese supply chains as Beijing's self-reliance drive and export controls deepen global trade uncertainty, the European Union Chamber of Commerce in China said on Wednesday.
49% : The EU's trade imbalance with China widened to 1:4 in container terms, compared with 1:2.7 in 2019, the lobby group said in a report.
29% : The report said China's willingness to use its supply chain dominance to exert pressure on trade partners is being met with increasing pushback from affected countries, such as a more "offensive" China policy from the EU.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.