European firms in China overly focused on managing risks instead of increasing market share, which hurts innovation and increases costs for consumers, European business group warns
European firms in China overly focused on managing risks instead of increasing market share, which hurts innovation and increases costs for consumers, European business group warns
The European Chamber of Commerce said in its de-risking report that companies were "skewed disproportionately towards risk management and building resilience" because of the COVID pandemic, global economic slowdown, Ukraine war and U.S.-China geopolitical competition.
"China has a rational self-interest in ensuring that there is a workable commercial relationship with Europe going forward. And that, frankly, is put at risk right now," Jens Eskelund, president of the European Chamber of Commerce in China, said.
"I think there is a risk that Europe feels compelled to react in more protective ways."
Eskelund is literally saying that this is an issue with Europeans and US, that China wants a good relationship with Europe. I don't get where you draw your conclusions.
No, what he is saying is "We don't like that Europeans care so much about things like reliability and moral concerns, it is getting in the way of making a profit over here in China and thus getting in the way of my career as the president of the European Chamber of Commerce in China".
See also here https://www.europeanchamber.com.cn/en/national-news/3522/european_chamber_members_elect_jens_eskelund_president_and_select_a_new_executive_committee