The EU's trade deficit with China reached €292 billion in 2024, on more than €800 billion of bilateral trade. The gap between production and consumption is the core issue.
By Jun Jiang
China accounts for about 37.5 percent of global manufacturing and 18 percent of global GDP. Since COVID, Chinese exports to Europe have risen by over 40 percent while EU exports to China grew by less than 1 percent. The 15th Five-Year Plan names that imbalance itself.
More insights
Jun Jiang's essay as a 21-minute film, with footage from the October 2026 delegation and a source for every figure.
Standing out here does not mean rising above others, but above the line where you yourself started. A film based on Jun's post, in English and Dutch.
Joe Ngai en Nick Leung (McKinsey) · Scribner, 2026
What China's new phase means for entrepreneurs: not an end point, but a reset.
Start here
Tell us what you want to do in or with China. You will hear straight away whether it is realistic, what it takes and whether we are the right partner. If we are not, we will say so.
