Opinion: Who’s Eating China’s Export Lunch in the EU?

In the first eight months of 2023, the U.S.-dollar value of China’s exports to the European Union fell 10.5% from the same period last year. This was largely due to declining demand from the bloc amid a high-interest-rate environment, and China’s share of the bloc’s total imports has not decreased significantly.

Growth in imports from the EU’s other main trading partners, including the U.S., Japan, and South Korea, has all declined sharply this year amid a rapid weakening of demand in member states.