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Beijing bets on manufacturing
FT News Briefing
Chinese Manufacturing Boom Impact and Trade Tensions
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Chinese manufacturing is shifting towards high-end manufacturing for green technologies like electric vehicles, solar panels, wind energy, and batteries, leading to cheaper exports. This has sparked concerns in Europe and the US about overcapacity and dumping of Chinese products in their markets, especially in key industries like automotive and green technologies. Trade tensions are escalating as cheaper Chinese exports directly compete with high-end industries in other countries, potentially leading to industry wipeouts and a significant increase in tensions in the coming year.
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