’Slow’ EU to unveil plan for cutting raw materials’ reliance on China
NeutralFinancial Markets

- The European Union (EU) is set to unveil a plan aimed at reducing its reliance on raw materials sourced from China, a move that reflects growing concerns over the bloc's dependency on Chinese imports. This initiative comes amid increasing competition and market dominance by China, as highlighted by the European Central Bank's chief economist.
- This development is significant for the EU as it seeks to bolster its economic independence and secure supply chains for critical materials. The plan is expected to address vulnerabilities that have been exposed by the ongoing geopolitical tensions and economic shifts.
- The broader context reveals a challenging economic landscape for the EU, with companies facing job cuts due to a slowing economy. This situation underscores the urgency for the EU to foster domestic growth and innovation, as it navigates the complexities of global trade and competition with China.
— via World Pulse Now AI Editorial System






