Siemens Energy CEO Calls for Fair Competition in Wind Turbine Market
Christian Bruch who is the CEO of Siemens Energy is quite worried about how the wind turbine market is changing in Europe. He believes that competition should be fair for everyone. Especially as more Asian companies mainly from China are starting to sell their wind turbines in Europe.
The Problem
Bruch thinks that Chinese companies might be getting unfair help from their government. This help could include things like subsidies. Subsidies as in financial boosts that makes it easier for these companies to sell their products at lower prices. If this is true it could hurt European companies like Siemens Energy because they can't compete with such low prices.
The Call for Action
Bruch has mentioned about an investigation by the European Union. This investigation will look into whether Chinese companies are getting unfair advantages. Bruch is not asking to stop Chinese companies from selling in Europe. But he just wants to make sure everyone is playing by the same rules.
Why It Matters
If competition is not fair the European companies might struggle to survive at the current situation. This could lead to job losses and a weaker European economy. By ensuring fair competition Bruch hopes that European companies can continue to innovate and succeed without being undercut by cheaper, potentially subsidized products from China.
In simple terms Bruch is asking for a level playing field where everyone has an equal chance to succeed which is important for the health of European businesses.
