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Europe observes with concern the rise of China and India

The European Union (EU) lacking growth is observing the Indian and Chinese models with interest. Here are some figures that say more than many comments and analyses. It is easy to understand that the two most populous countries in the world clearly display their ambition to join the club of the world's leading powers next to the USA. More than 50% of the steel produced in the world is Chinese. China is also the world's leading exporter of cars with nearly 5.4 million vehicles sold abroad in 2023. And China holds more than 12% of the global pharmaceutical market. And another example, the automobile batteries: China has also reached a dominant position in this area. We can also note that China has tightened his grip over the entire Indian Ocean region in the past two decades. For its part, India wants to fight the Chinese hegemony in Asia. We must remember that from 2021 the EU has decided that India must be a priority partner. And it seems clear that the EU and India share the same objective: they want to reduce their economic dependence on China. However, today China remains India's main supplier (Electronics, machinery, fertilizers etc.).But it is equally essential to remember that the massive aid from the Chinese State to its industry creates unacceptable distortions of competition. Finally let us remember, and this forecast is rather gloomy, that European industry risks one day being crushed by both India and China.

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