[Europe as a Middle Power] What Brussels could still learn from Tokyo

Sander Tordoir and Brad Setser's research for the Centre for European Reform makes the comparison explicit: this is a second China shock and unlike the first one two decades ago, it's hitting the capital-intensive, high-wage sectors, cars, machinery, chemicals, that Germany assumed were permanently safe. 

...Tordoir and Setser's brief is notable precisely because it says this plainly when almost no elected German official will: the country needs to rethink its trade and industrial policy rather than wait for Chinese demand to normalize, because it won't.