EM Germany Dialogue with European Parliament Rapporteur Event Report – Rails as Geopolitics
The European rail industry is in stormy waters, the discussion with Martina Werner, MEP and rapporteur in the Committee on Industry, Research and Energy (ITRE), concluded. The main reason for this alarming market analysis is the 2015 merger between the two national Chinese rail supply companies, CSR and CNR, that created the CRRC corporation. The CRRC is twice as large as the next biggest competitors on the international market.
The success and advance of CRRC exposed the substantial disadvantage of a Europe without a common industrial policy. While China has developed a strong geopolitical strategy with its plan “One Belt One Road”, Europe suffers from a “horizontal” industrial policy. With its industrial policy, China doesn’t only seek monetary profit, but rather aims to establish a new world order. “Europe risks losing international influence on future global trade directives if it reacts too late.”
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