A new plan proposed by Brussels to support small and medium-sized enterprises (SMEs) is raising concerns among industry groups. While the plan aims to provide assistance to SMEs, it is also anticipated to lead businesses to increase their sourcing of goods from China.
According to industry groups, the plan could unintentionally encourage businesses to rely on Chinese suppliers, jeopardizing the local economies. They argue that this could have several negative consequences, such as potential job losses in domestic industries and an increased import dependency. The industry groups also fear that the plan could undermine efforts to diversify supply chains and reduce reliance on a single country.
As Brussels seeks to support SMEs, there is a need to carefully consider the potential unintended consequences. It is vital to strike a balance between aiding local businesses and ensuring a diversified and resilient supply chain. This requires comprehensive analysis and carefully crafted policies to address the concerns raised by industry groups.
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