Siemens Energy boss says there can be no energy transition without China [Yahoo! Finance]
SIEMENS AG SPONS ADR (SIEGY)
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Source: Yahoo! Finance
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. "The last thing I would do is advocate something like departing or de-risking. We have a connectivity between the two regions that is fruitful and unavoidable," Bruch told a briefing with journalists this week. "Trying to build a wind turbine without any Chinese supply will be close to impossible. Energy transition without China doe
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