Europe completely misunderstood China, Cornel Ban told popular Hungarian YouTube channel Partizan in an interview on EU-China trade and industrial competition.
China is no longer simply the world’s factory. It has become a technological leader in numerous key industries, while Europe is increasingly trying to defend itself. According to Cornel Ban, an economist at Copenhagen Business School, however, the real question is not how to stop China, but why Europe is unable to develop its own economy with the same strategic thinking. The interview covers the workings of Chinese industrial policy, the competition in the electric vehicle market, the collapse of Northvolt, the strategies of German automakers in China, EU protectionism, and whether Hungary and Eastern Europe will emerge as winners or losers in this new era of the global economy.