The Institute recalls that, according to the Organization for Economic Cooperation and Development, Europe is deeply embedded in world trade chains, accounting for two-thirds of the global circulation of goods and services.
As a result, the continent enjoys all the benefits of free world trade, but it can also be sensitive to its disruptions. The shutdown of Chinese plants may point to this vulnerability.
For the first time, analysts looked at how much of the industrial firms’ revenue could be lost in European countries if Chinese imports stopped. Hungary is the most vulnerable in this respect, as 7.5% of corporate revenues in Hungary depend on the Chinese end of the supply chain, G7.hu notes.
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