https://www.euronews.com/business/2026/05/26/industrial-sovereignty-five-sectors-where-the-eu-is-critically-dependent-on-china
The EU's Commissioner has said they are too dependent on Chinese imports, which China being the sole source of imports on certain goods (see graph in link).
China throws its weight around because of the world's dependency on it. After years of being the go-to for cheap imports (and their huge market), the world became too depend and China knows it. Even for even minor slights, such as simply referring to Taiwan a a country, China could ban access to their markets.
In light of economic "threats" China has been making, the EU is now looking to reduce their dependency on China. As a member of BRICS allied with Russia against the U.S., this could end up being a good thing, as China quietly wields too much power over the world.