English Section

Poland to benefit from U.S.-China business rivalry: Bloomberg

04.11.2023 12:30
Poland is among an exclusive group of five nations to reap substantial benefits from the ongoing competition between the United States and China, as reported by the bloomberg.com website.
The LG Energy Solution battery factory for electric vehicles in Biskupice Podgórne, Lower Silesian Province, south-western Poland.
The LG Energy Solution battery factory for electric vehicles in Biskupice Podgórne, Lower Silesian Province, south-western Poland. PAP/Maciej Kulczyński

In an analysis titled “These Five Countries Are Key Economic ‘Connectors’ in a Fragmenting World”, Bloomberg claims that Poland, alongside Vietnam, Mexico, Morocco and Indonesia is poised to “emerge as important link in a global economy that’s fragmenting into rival blocs”.

According to Bloomberg, all of these countries are strategically positioned to capitalise on the shifting dynamics within global supply chains resulting from the rivalry between Washington and Beijing.

The website points out that the countries lie at the intersection of emerging geopolitical divides and are successfully leveraging their roles as intermediaries between the U.S. and China, as well as China and Europe

They attract a significant number of investments and international trade from both sides of the conflict.

Regarding specifically Poland, Bloomberg underscores the country's growing prominence in the car battery segment.

According to the agency, Poland is currently the world's second-largest producer of such systems, following China.

It also highlights that foreign companies, such as LG Chem and Northvolt AB, have opened their battery factories in Poland while automotive giants such as Volkswagen and Mercedes have announced plans to invest further in this segment.

Bloomberg also mentions the development of the Polish electric car, Izera, as part of collaboration with the Chinese firm Geely.

(mo)

Source: Bloomberg, IAR