The Volkswagen Crisis: A Wake Up Call for Germany and the EU The Volkswagen crisis has exposed a stark truth about the European Union's trade relationship with China: the EU is facing a profound challenge to its industrial base.
Behind the headlines of a struggling German auto giant lies a reality that has been gathering pace for years but only now, as Volkswagen's woes have forced a reckoning, is clear.
The numbers are telling – and terrifying. A recent analysis reveals that China's surplus in manufactured goods trade with the EU is equivalent to Italy's national income, growing by 30% annually.