FT talked about the inability of the EU to produce paracetamol on its own

The closure of some chemical plants in Europe has led to the fact that countries can no longer produce drugs such as paracetamol. This was announced on May 6 by the Financial Times newspaper with reference to Marko Mensink, CEO of the Cefic Chemical Industry Association.

"Chemical production has decreased to the point that only one company can produce a number of medicines <...> The EU can no longer produce drugs such as paracetamol," the newspaper quoted him as saying.

The expert noted that over the past three years, the European chemical industry has closed approximately seven percent of production facilities. The pace of plant closures is increasing, the newspaper reports. Mensink explains this by the influx of more affordable chemical products from China to the European market. In his opinion, the growing imports have brought the European chemical industry to a "critical point."

The publication reports that the European Union (EU) launched 24 anti-dumping investigations in 2024-2025 against cheap imports from China. The head of Cefic added that China intends to compensate for losses from the closure of the American market. "What China used to send to the United States is now going to Europe," the expert stressed.

Share the gas for everyone: Russia may replace Qatari helium supplies to China

Against the background of the Middle East conflict, the market is facing a shortage of resources, which will affect the production and prices of electronics.

The Handelsblatt newspaper reported on April 30 that Oliver Blume, chairman of the board of the German Volkswagen carmaker, allowed the possibility of assembling cars of Chinese companies at the concern's factories in China. According to the publication, Volkswagen management is considering options to increase the efficiency of production facilities, including the supply of cars from China to Europe and the joint use of factories with Chinese partners.