7 days ago
US Tariffs Are Changing Europe's Approach to Chinese Investment
The Atlantic coastal town of Sines is best known as the birthplace of Vasco da Gama, the Portuguese explorer who forged the first maritime trade route from Europe to Asia. Centuries later, Sines is now an example of the shift in Europe's engagement with Beijing as the continent adapts to a world dominated by US-China rivalry.
Where Chinese entities once focused on buying European infrastructure like ports and power grids, they're now building their own factories with the help of local state subsidies. In Sines, lithium battery maker CALB has become the latest Chinese company to locate in Portugal, breaking ground in May on a $2.2 billion plant with promises of creating 1,800 jobs.
