German Scholar: Enhancing Competitiveness Key to Win-Win Trade

In a recent interview, Professor Horst L\u00f6chel from the Frankfurt School of Finance and Management emphasized that mutually beneficial trade can only be achieved by enhancing one’s own competitiveness. Referring to the European Union’s latest tariff measures against Chinese electric vehicles, he advocated for a focus on innovation and self-improvement rather than protectionist policies.

“Competition drives progress,” Professor L\u00f6chel stated. “Instead of imposing tariffs, the EU should invest in its own electric vehicle industry to improve quality and reduce costs. This will foster a healthier market environment and benefit both European and Chinese consumers.”

The EU recently announced an anti-subsidy investigation into electric vehicles imported from China, citing concerns over unfair competition. This move has prompted discussions on trade relations and the balance between protecting local industries and encouraging open markets.

Professor L\u00f6chel cautioned that protectionism could lead to trade tensions that ultimately harm all parties involved. “History has shown that trade barriers can backfire,” he said. “By embracing competition and striving for excellence, we can create a win-win situation for all economies.”

He further highlighted the importance of collaboration in the global effort to combat climate change. “Electric vehicles are crucial in reducing carbon emissions. International cooperation in this sector can accelerate technological advancements and make clean transportation accessible worldwide.”

As debates continue over the EU’s trade policies, experts like Professor L\u00f6chel advocate for strategies that enhance competitiveness and foster global partnerships, steering away from measures that may hinder international trade and economic growth.

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