China’s expanding economic influence in Europe, and now particularly
Eastern Europe, is strongly notable in its investments in a variety of sectors. There is growing focus
over the PRC’s ceaseless acquisitions of European manufacturing companies and consumer brands. These acquisitions in the EU, the United Kingdom,
Scandinavia and other regions range vastly from technology to car manufacturing
like the iconic Volvo, and luxurious wineries. With Europe's economic growth crippled by the European debt crisis,
these supportive investments in the continent that have injected billions of dollars into the economy, totaling to $12.6 billion in 2012, have been welcomed with relief.
China's emerging power in Eastern Europe is obvious in its recent major acquisitions in technology and infrastructure such as that of the €1.2bn purchase of Hungarian chemicals maker, Borsodchem by Wanhua Industrial Group. In Central Europe, China completed a $100m takeover of Huta Stola Wola, a road machinery company. Members of the ex-Soviet Union, still developing their economies, such as Belarus and Poland hope to learn from China's development strategies and become economic partners. Prime Minister Wen Jiabo announced that China's goal was to generate $100 billion in trade per year with Central and Eastern Europe as of 2015. China’s acquisitions in other resources outside of the natural type is needed in order to help them in their urbanization process which includes transportation and health care. The PRC needs the capital from Western technology and brands, and Europe is the ideal market.
China's emerging power in Eastern Europe is obvious in its recent major acquisitions in technology and infrastructure such as that of the €1.2bn purchase of Hungarian chemicals maker, Borsodchem by Wanhua Industrial Group. In Central Europe, China completed a $100m takeover of Huta Stola Wola, a road machinery company. Members of the ex-Soviet Union, still developing their economies, such as Belarus and Poland hope to learn from China's development strategies and become economic partners. Prime Minister Wen Jiabo announced that China's goal was to generate $100 billion in trade per year with Central and Eastern Europe as of 2015. China’s acquisitions in other resources outside of the natural type is needed in order to help them in their urbanization process which includes transportation and health care. The PRC needs the capital from Western technology and brands, and Europe is the ideal market.
Cited:
Buckley, Neil.(2012, May 17). Beijing wakes up to eastern Europe. Retrieved October 3, 2013, from http://www.ft.com/cms/s/0/03d93826-9f79-11e1-a255-00144feabdc0.html
Eddy, Melissa. (2012, April 26) . China Wants More Trade With Central and Eastern Europe. Retrieved October 3, 2013 from http://www.nytimes.com/2012/04/27/business/global/china-wants-more-trade-with-central-and-eastern-europe.html?_r=0
Gumbel, Peter. (2013, June 3). Guess Who’s Bullish on Europe? China’s New Investment Play. Retrieved October 3, 2013 from http://business.time.com/2013/06/03/europes-new-wave-chinese-acquisitions/.
Buckley, Neil.(2012, May 17). Beijing wakes up to eastern Europe. Retrieved October 3, 2013, from http://www.ft.com/cms/s/0/03d93826-9f79-11e1-a255-00144feabdc0.html
Eddy, Melissa. (2012, April 26) . China Wants More Trade With Central and Eastern Europe. Retrieved October 3, 2013 from http://www.nytimes.com/2012/04/27/business/global/china-wants-more-trade-with-central-and-eastern-europe.html?_r=0
Gumbel, Peter. (2013, June 3). Guess Who’s Bullish on Europe? China’s New Investment Play. Retrieved October 3, 2013 from http://business.time.com/2013/06/03/europes-new-wave-chinese-acquisitions/.
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