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EU chamber chief: US-China tech war a bigger threat than coronavirus

EU chamber chief: US-China tech war a bigger threat than coronavirus
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It’s possible Europe’s tech economy could be damaged more by the U.S.-China tech war than the coronavirus pandemic, the president of the European Union Chamber of Commerce in China said Thursday, according to Reuters.

“When two elephants dance it’s hard to stand aside and not be impacted,” Jörg Wuttke, who is also the chief representative in China of German petrochemicals giant BASF, told Reuters. 

China, which is where the coronavirus is believed to have originated, began reopening its economy earlier than other countries since they reached the peak of their infections sooner. 

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Wuttke said that European companies are “navigating in the dark”, due to the uncertainty brought by the virus. He also said the pandemic is “one challenge that I think can be handled.”

“When it comes to the kind of U.S.-China trade war, the tech war which is unfolding, the possibility of a finance war, it’s something which is going to be longer lasting, it’s going to be more damaging, and it’s definitely going to bring huge uncertainty,” he said.

Wuttke told the wire service that the “ultimate worry” is that the U.S. will give them an ultimatum, making them choose between America and China. 

“We have a complete reliance on American semiconductors, as does China,” he said. “We also have a huge market here [in China].”