China’s investments in the EU have seen a significant surge over the past decade. Nearly 9.5 percent of the bloc’s foreign-owned firms have their ownership based in China, Hong Kong, and Macau, up from 2.5 percent in 2007.
Chinese entities reportedly operate, partially or wholly, at least four airports, six seaports, wind-farms in nine countries and 13 professional football teams. The world’s second-biggest economy has invested around €320 billion ($356bn) into the bloc.
While the total amount is not huge, the pace seems alarming. The volume and nature of the investments has raised a red flag, and EU leaders are pressing for a strategy to tackle China’s relentless advances into Europe.
RT’s Boom Bust talked to Richard Wolff, a professor emeritus of economics at the University of Massachusetts, to analyze the potential superpower shift that is underway across the Atlantic.
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