The EU's investment agreement with China is expected to bring improvements in market access as well as a leveling of the playing field for European companies. It will be particularly important that the Chinese commitments can be enforced, if necessary.
"Made in China 2025" leads to intensified competitive pressure in mechanical and plant engineering. A new study examines various scenarios up to the year 2030. Companies in Europe can continue to benefit from the upswing in the People's Republic, but there is a growing danger of falling exports to the Far East.
Ulrich Ackermann, Head of VDMA Foreign Trade, explains why the mechanical engineering industry's view of China as an important trading partner is currently critical and which measures the EU must therefore now initiate.
Machines improve our lives – on a large and small scale. Whether for our health, food or the many means of transportation that we use; whether we are looking at the ground deep below the sea or from high above – we need machines and people who utilize their skills to make the world a better place to live. That is the aim of mechanical and plant engineering. Humans – Machines – Progress.
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