Author: Cornelius Welp

Cornelius Welp is a special correspondent for WELT company, after previously heading a department, reporting and editing for WirtschaftsWoche in Frankfurt and Düsseldorf. He focuses on economic, business and real estate reporting.

Categories
Economy

China’s Industrial Overcapacity Has Already Started To Hit Europe

Electric vehicles loaded onto a Chinese car carrier docked in the German port of Bremerhaven.
Chinese electric vehicle manufacturer, BYD, launched its new car freighter, "BYD Explorer No.1," on its maiden voyage from Shenzhen, China to the port of Bremerhaven, Germany in February. Lars Penning/dpa via ZUMA Press

In China, sales of electric cars, consumer goods and industrial products are stalling. State-owned companies have built up excess capacity. The new plan is to flood the European market with the products. The first signs are appearing in Germany.

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