trade
Brussels (Belgium) (AFP) - The European Union on Wednesday announced a probe into China's medical devices market, prompting an immediate accusation from Beijing that the bloc was engaging in "protectionism". Brussels suspects China is favouring its own suppliers for the procurement of medical devices. The EU's official administrative journal, announcing the probe, set out ways that could be happening, including through a "Buy China" policy. The EU also has concerns that China may have restricted imports and imposed conditions "leading to abnormally low bids that cannot be sustained by profit-...
AFP
Leaders of German automotive giant Volkswagen (VW) are expecting the next two years in the highly competitive Chinese car market to be difficult, but don't fear challenges from rival Chinese carmakers in the European market. Chinese carmakers will eventually need to invest in European production plants to build vehicles locally instead of shipping huge numbers of finished vehicles by ocean, Ralf Brandstätter, head of VW's China business, said on Wednesday in Beijing ahead of a major auto show in the Chinese capital. That would also put Chinese competitors on more equal footing with European ri...
DPA International
Leaders of German automotive giant Volkswagen (VW) are expecting the next two years in the highly competitive Chinese car market to be difficult, but don't fear challenges from rival Chinese carmakers in the European market. Chinese carmakers will eventually need to invest in European production plants to build vehicles locally instead of shipping huge numbers of finished vehicles by ocean, Ralf Brandstätter, head of VW's China business, said on Wednesday in Beijing ahead of a major auto show in the Chinese capital. That would also put Chinese competitors on more equal footing with European ri...
DPA
Leaders of German automotive giant Volkswagen (VW) are expecting the next two years in the highly competitive Chinese car market to be difficult, but don't fear challenges from rival Chinese carmakers in the European market. Chinese carmakers will eventually need to invest in European production plants to build vehicles locally instead of shipping huge numbers of finished vehicles by ocean, Ralf Brandstätter, head of VW's China business, said on Wednesday in Beijing ahead of a major auto show in the Chinese capital. That would also put Chinese competitors on more equal footing with European ri...
DPA Breaking News
German automotive giant Volkswagen (VW) is expecting the next two years in the highly competitive Chinese car market to be difficult. "In April, we saw another round of price reductions coming, so this fierce competition will hold on for the next few years," VW board member Ralf Brandstätter said in Beijing ahead of a major upcoming motor show due to open next week. Many manufacturers of purely electric cars have significantly damaged their profit margins in recent years, he said, "so this leads to a consolidation of the market." He suggested that companies with lower sales volumes, below 100,...
DPA
German automotive giant Volkswagen (VW) is expecting the next two years in the highly competitive Chinese car market to be difficult. "In April, we saw another round of price reductions coming, so this fierce competition will hold on for the next few years," VW board member Ralf Brandstätter said in Beijing ahead of a major upcoming motor show due to open next week. Many manufacturers of purely electric cars have significantly damaged their profit margins in recent years, he said, "so this leads to a consolidation of the market." He suggested that companies with lower sales volumes, below 100,...
DPA International
German automotive giant Volkswagen (VW) is expecting the next two years in the highly competitive Chinese car market to be difficult. "In April, we saw another round of price reductions coming, so this fierce competition will hold on for the next few years," VW board member Ralf Brandstätter said in Beijing ahead of a major upcoming motor show due to open next week. Many manufacturers of purely electric cars have significantly damaged their profit margins in recent years, he said, "so this leads to a consolidation of the market." He suggested that companies with lower sales volumes, below 100,...
DPA Breaking News
The German government has hardly authorized any war weapons exports to Israel since the beginning of the year, according to newly released information. From the beginning of the year to April 10, the German government authorized deliveries of war weapons worth €32,449 ($34,600), the Economy Ministry said in response to a question from Bundestag member Sevim Dağdelen from the Sahra Wagenknecht Alliance (BSW). In addition, deliveries of other military equipment worth €10.03 million were authorized. Israel received €326.5 million worth of arms exports from Germany this year - around 10 times as m...
DPA Breaking News
The seizure by Iranian forces of a Portuguese-flagged container ship as it left the Persian Gulf has prompted global shipping companies to demand the United Nations provide increased military protection, with shippers already having been forced to take lengthy detours to maintain European trade flows amid the intensifying conflict in the wider region. Iranian Revolutionary Guards in the Strait of Hormuz seized the MSC Aries on Saturday morning (13 April), increasing unease within a shipping industry that has found itself in the crossfire of tit-for-tat hostilities in the Middle East, and promp...
Euronews (English)
Pittsburgh (AFP) - US President Joe Biden called Wednesday for a hike in steel tariffs on China, accusing it of cheating as he courted blue-collar voters on an election campaign trip to the battleground state of Pennsylvania. Biden accused Beijing of xenophobia too in a speech to union members in Pittsburgh that also sought to contrast his defense of workers' rights with the record of his rival Donald Trump. "They're not competing, they're cheating. They're cheating and we've seen the damage here in America," the 81-year-old Biden said to cheers at the headquarters of the United Steelworkers ...
AFP
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