
Jorg Wuttke
2
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Sep 23, 2026
Ep 87 - Joerg Wuttke: China told Europe exactly how it would beat us. We didn't listen.
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38:02

Joerg WuttkeGUEST
Well, I think that for the European Union, the idea has to be, and I was trying to allude to your industrial policy question, Andrew, there has to be a protective and defensive element in there, but very targeted.

Joerg WuttkeGUEST
So we don't fall into, this is China, that's security, that's closed borders, you know.

Joerg WuttkeGUEST
So we have to sort of really get scientific about this and find where's the damage, how big is the damage, and then act upon it, you know.

Joerg WuttkeGUEST
I think Europe has done a good job in 2024 in September by outlining what kind of stacked up subsidies the EV cars had.
5 MINS LATER

Andrew PolkHOST
Where you think Europe should, I mean, is it the rare earths should be a little bit harder on really focusing in on EU self-sufficiency in certain areas? Anything you can point to there that you think differently about?
Europe’s New ‘China Shock’ — Trade tensions, job losses, crisis talks
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Duncan HewittHOST
And I believe that the International Energy Agency have said that the West would need to invest something like $60 billion in order to produce rare earths to compete with China.

Jörg WuttkeGUEST
Yes, some of them have more in China, but our bottleneck is the refining capacity.

Jörg WuttkeGUEST
We lack the technology, and we lack the willingness to say, okay, a lot of nuclear waste comes out of this process, a lot of chemistry is needed, which is toxic, and it doesn't look well.

Jörg WuttkeGUEST
China accepted this, and that's why Inner Mongolia has these lakes of chemistry, which is polluting huge chunks of Inner Mongolia.