Heiwai Tang: 'Europe has the market that Chinese companies want'
Economic expert Heiwai Tang at the IfW Kiel's Global China Conversations series.
In recent years, China's industrial policy has led to massive overcapacity in key sectors such as electric cars, solar cells, and robotics. The reason for this is a centrally controlled subsidy model under which local governments want to build up their own “champions” – often all in the same industries, as Hong Kong economist Heiwai Tang explains.
