The Greek prime minister said Chinese production capacity could destroy Europe.
But the irony is obvious:
This only becomes a “global threat” when China does it.
The United States once accounted for around 50% of global manufacturing during World War II.
After World War I, its share was already around 38%.
Both were far higher than China’s share today.
Back then, nobody called it “overcapacity.”
Nobody said America was destroying the world.
Nobody demanded Washington shrink itself for the comfort of weaker competitors.
It was called leadership.
It was called productivity.
It was called the reward of industrial power.
But when China reaches 30% through factories, infrastructure, supply chains, engineers, workers, ports, grids, and industrial discipline, suddenly Europe discovers the word “danger.”
Please.
China did not destroy European industry.
Europe hollowed itself out.
Europe outsourced production.
Europe worshipped finance, regulation, luxury branding, and green slogans while letting its industrial base decay.
Then China kept building.
Now the countries that gave up manufacturing are angry at the country that did not.
In the end, this is what happens when Western undercapacity meets Chinese competence.
They call it “Chinese overcapacity.”