European policymakers have watched Chinese carmakers roll in like a slow but unstoppable tide over the past few years: affordable, polished and threatening one of the continent’s proudest industrial legacies. Many have warned about the dismantling of their automotive prides following the new China shock.A crown jewel of Europe’s industrial output, the automotive sector represents directly and indirectly a total of more than 13 million jobs in the EU.But the obituaries may have been written too soon. A growing number of industry insiders said European brands could pull level with their Chinese rivals in cost, some predicting parity could come…