Reuters
Europe's energy sector relies too much on China to entertain the idea of de-risking, the CEO of Siemens Energy said, reflecting the dilemma of an industry in need of supplies from the world's No.2 economy - but not the competition that comes with it. The comments by Christian Bruch come as global trade tensions with China are heating up, with the U.S. raising tariffs on Chinese electric vehicles this week and the European Union looking into similar steps to protect local players from unfair competition. Meantime, the EU has launched an investigation into Chinese wind turbine makers and whether they benefit from subsidies in their efforts to undercut the pricing of Western companies like Vestas, Nordex and GE Vernova.