The Double China Shock: How Beijing’s Dual-Track Manufacturing Strategy Squeezes Europe and Southeast Asia
According to the source, China is simultaneously upgrading into advanced industries while sustaining and modernizing traditional manufacturing, disrupting both developing and advanced economies. The resulting “Double China Shock” pressures ASEAN’s low-tech industrialization prospects and Europe’s medium/high-tech base through import substitution, third-market competition, and home-market penetration.