Finance & economics | Battered and bruised

Europe’s economy is under attack from all sides

First Putin, now Xi. Next Trump?

An illustration of a Euro sign with plasters as the bars across it
Illustration: Guillem Casasus

A decade ago Xi Jinping was welcomed to Duisburg in Germany’s Ruhr valley. He praised the region as a hub for Chinese investment; greeted a train that had spent a fortnight travelling from Chongqing, via Russia, to Europe’s industrial belt; and enjoyed an orchestral performance of traditional mining songs. More recently, another Chinese arrival in Germany received a frostier reception. In February a ship called BYD Explorer No. 1 unloaded 3,000 or so electric cars made by BYD, a Chinese electric-vehicle (EV) firm. As the ship’s name suggests, it is likely to be the first of many. Little surprise that it has prompted worries about the future of Germany’s hallowed carmakers.

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This article appeared in the Finance & economics section of the print edition under the headline “First Putin, now Xi. Next Trump?”

From the March 30th 2024 edition

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