[Fasces]

US
POLITICO Live
More Info
Primary Menu
SIGN UP TO NEWSLETTERS
SIGN IN
China rejects EU’s trade deficit complaint
It makes no sense for the bloc to impose restrictions on high-tech exports and then complain about the trade deficit, says Beijing.

CHINA-US-DIPLOMACY
The EU bears responsibility for the trade imbalance as it's stopped businesses from exporting to China, Foreign Ministry spokesperson Wang Wenbin said | Greg Baker/AFP via Getty Images
BY STUART LAU
DECEMBER 6, 2023 12:31 PM CET
2 MINUTES READ
Share on Facebook
Share on Twitter
Share on Linkedin
Share on WhatsApp
Mail
BRUSSELS — Beijing has rebuffed a complaint by European Commission President Ursula von der Leyen over the EU's trade deficit against China, a day before her summit meeting with Chinese President Xi Jinping.

The EU bears responsibility for the trade imbalance as it's stopped businesses from exporting to China, Foreign Ministry spokesperson Wang Wenbin said on Wednesday, responding to von der Leyen's call on China to open up access to its market.

"If the EU on the one hand imposes harsh restrictions on high-tech exports, and on the other hopes to sharply increase exports to China, that I'm afraid doesn't make sense," Wang told a regular press conference.

https://www.politico.eu/article/china-r ... complaint/

I am curious about the EU messaging here. Do they expect that the export of random luxury goods - chocolates, wines and hams - would be enough to cover the trade deficit?

[Potemkin]

I am curious about the EU messaging here. Do they expect that the export of random luxury goods - chocolates, wines and hams - would be enough to cover the trade deficit?

Nah, they just think their own shit doesn’t stink. China has to open up all its markets to international trade while the EU puts up trade barriers to protect their own industries and tech secrets. And they see no contradiction in that. Nineteenth century European imperialism is still casting a long shadow….

[Rugoz]

China has to open up all its markets to international trade while the EU puts up trade barriers to protect their own industries and tech secrets.

Wtf are you smoking.

[JohnRawls]

I am curious about the EU messaging here. Do they expect that the export of random luxury goods - chocolates, wines and hams - would be enough to cover the trade deficit?

Well it depends, if China is not cooperative then we can start "asking" our enterprises to leave China kinda like the Americans are doing. This makes it harder not to be with the Americans on China policy. Considering Ukraine as an issue where China is not helping, this might be an inevitability now.

[Negotiator]

Nah, they just think their own shit doesn’t stink. China has to open up all its markets to international trade while the EU puts up trade barriers to protect their own industries and tech secrets. And they see no contradiction in that. Nineteenth century European imperialism is still casting a long shadow….

The european imperialism of the 19. century was from England, who wanted free markets.

As is modern imperialism, for example by the world bank, who always demands from undeveloped countries that they open their markets.

Protectionism isnt imperialism. It allows an economically weak country to develop their own industry by protecting it with tariffs. Its how most of Europe (everyone but the UK, who was first and thus never needed it) to industrialize, too.

Free markets are a luxury thats possible between two competitions who are of about equal economic power. If there is a strong imbalance, it allows the more powerful country to block the weaker country to industrialize, by always easily outcompeting the prices and quality of the weaker country and thus killing any industrial development in it.