The European economy, which suffered from the Coronavirus pandemic, has all chances to become a victim of another crisis – the technological war between China and the United States.
This was reported by the agency “Reuters” on Thursday, June 18.
Representative of German petrochemical giant “BASF” in China Jorg Wattke notes that now the coronavirus looks like a problem that “can be solved”. At the same time, he looks with anxiety at the escalation of tensions between Beijing and Washington.
“When two elephants are dancing, it’s hard to stay away and not be exposed”, – he says.
According to him, European companies are now forced to act “blindly” because of the pandemic. The situation is complicated by the fact that they are caught in the crossfire between the US and China. It is the last factor Wattke considers a long-term threat.
“We are talking about a war between the U.S. and China, a war of technology unfolding, a possible financial war, something that will last longer, will be more devastating and will definitely bring enormous uncertainty”, – he emphasizes.
He admitted that European companies are highly dependent on both the Chinese and American markets, and soon there may come a time when they will have to choose. At the same time, Wattke draws attention to the confidence of European business in growth opportunities when working with China.