The Siren Song of Cheap Labor: Europe's Manufacturing Conundrum The European Union is on the brink of a manufacturing crisis, one that threatens to erase hundreds of thousands of jobs in the region.
At its core lies China's insidious encroachment into European supply chains, a development years in the making that demands urgent attention from policymakers.
Eurometal, a leading industry trade body, warns that Chinese component manufacturers are "colonising" the continent, predicting 300,000 job losses in manufacturing this year alone.