China, for example, is aiming to capture and internalise all parts of the supply chain in green and advanced technologies and is securing the access to the required resources. This rapid supply expansion is leading to significant overcapacity in multiple sectors and threatening to undercut our industries. 

The US, for its part, is using large-scale industrial policy to attract high-value domestic manufacturing capacity within its borders – including that of European firms – while using protectionism to shut out competitors and deploying its geopolitical power to re-orient and secure supply chains.

Glad to see the EU finally realize that China is not the only threat: the US is equally harmful (if not moreso) to Europe's economic development.

Here's a litmus test for everyone: What search engine leads in China? What search engine leads in the US? What search engine leads in Europe?