文章聚焦欧中贸易失衡的规模与恶化趋势：中国对全球贸易顺差已达约1万亿美元；对欧盟顺差在10年内几乎翻倍至约3000亿欧元。美国关税与中国内需疲弱叠加，使出口转向并涌入欧洲，被视为对欧中双方都不可持续。

作者主张避免以全面关税与配额作为单边回应，认为失衡同时源于欧盟生产率偏弱与中国出口导向增长。欧盟应以竞争力、创新与保护为新经济议程：完善能源、健康、数位单一市场；加大对高成长产业的创新与颠覆性研发投资；并在关键材料、实体与数位技术上去风险，同时保留关税、反胁迫等工具以应对不公平竞争。

在资金与投资端，欧洲约有30万亿欧元储蓄，但每年约3000亿欧元外流投资海外；作者呼吁透过监管简化、证券化与统一监管，推动「储蓄与投资联盟」让资金回流支持创新与成长，并提升欧元国际角色（如欧元稳定币、数位欧元与安全流动资产）。同时，中国需以更宽松财政降低储蓄、提振消费与服务业；外资亦需再平衡：欧盟对华投资近2400亿欧元，而中国对欧投资不足650亿欧元，宜在互惠、就业、创新与技术分享条件下扩大双向投资。

The piece highlights a worsening EU–China imbalance: China’s global trade surplus is about $1tn, and its surplus with the EU has nearly doubled over 10 years to roughly €300bn. With US tariffs and weak domestic consumption, Chinese exports are increasingly redirected into Europe, a trajectory portrayed as unsustainable for both sides.

It argues broad tariffs and quotas would be an uncooperative response, since the imbalance reflects both weak EU productivity and China’s export-led model. The EU should pursue competitiveness, innovation, and credible protection: complete single-market integration in energy, health, and digital; invest heavily in high-growth innovation and disruptive research; de-risk critical material, physical, and digital technologies; and retain tools such as tariffs and anti-coercion measures against rule-breaking.

On financing and investment, Europe holds around €30tn in savings yet invests about €300bn abroad each year; reforms (simpler regulation, securitisation, unified supervision, and a Savings and Investments Union) are framed as ways to mobilise capital at home and strengthen the euro’s role (including euro stablecoins, a digital euro, and safe liquid assets). China is urged to rebalance internally via more supportive fiscal policy to reduce saving and lift consumption and services, while FDI flows should narrow a large gap: the EU has invested close to €240bn in China versus under €65bn the other way, with cooperation conditioned on jobs, innovation, and technology sharing.