China’s high-tech rise puts competitive pressure on Switzerland

Economists at Swiss bank UBS view China’s economic rise as a major challenge for the Swiss economy. The US tariffs, on the other hand, are likely to have only a temporary impact. Over the past decade, China has increasingly transformed itself from the "world’s factory" into a hub for high technology. For example, the country has built up its own chip industry, and in the automotive sector, too, it has at least caught up with Western suppliers. Furthermore, Chinese firms are increasingly emerging as competitors in the mechanical engineering, electrical engineering, chemical and medical technology sectors, as experts at UBS note in their economic outlook for Switzerland, published on Thursday. + The numbers behind China's pharma rise Owing to the sometimes significant overcapacity in China and weak domestic demand, Chinese firms are increasingly turning to exports. This is putting pressure on international markets. Switzerland still in a favourable position At present, however ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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