Washington and China have been engaged in a trade and technology war since 2018, with both sides looking to reduce their interdependence. The decoupling or disentangling of the world’s two biggest economies, tremors of which are being felt across the global economy, however, is not the biggest challenge facing European firms doing business in China, a survey showed. The firms rated the US-China economic split below challenges posed by a global economic slowdown, the COVID-19 pandemic, competition with Chinese firms, market access issues, and rising labor costs. Despite a high level of exposure to US-China tensions, European firms remain primarily unprepared for a potential deepening of the r
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