Xi Jinping's Strategy Represents a Significant Threat to European Industry

OrganizationsInternational Organizations ♦ Published: October 21, 2015; 17:30 ♦ (Vindobona)

AEGIS Europe, the manufacturing alliance of 30 European industry associations express skepticism at Chinese President Xi Jinping's remarks to the media during London visit. The alliance called into question Mr Xi's comments to the media about China's orientation towards a more open and transparent market.

Xi Jinping: China is doing things its way / Picture: © Wikipedia / Stemoc

"Europeans should be very concerned at China's approach to its economy. Mr Xi's notions about China 'doing things its way' suggest he does not believe in the internationally recognised understanding of what constitutes a 'market economy'", said Milan Nitzschke, spokesperson for AEGIS Europe.

"During the last five years China has doubled subsidies to its industry, and is financing…