China EU Photo:VCG
Global Times: China becomes EU’s largest trade partner
China has become the EU's largest trade partner for the first time, latest data shows, highlighting that the economic ties of the close comprehensive strategic partnership between China and the EU are intertwined with each other's industrial chain.
The data also discredits some media reports that Beijing's hopes of using Europe as a counterweight to the US have faltered, as China faces rising anger over its policies and behavior including trade.
Chinese experts said the noise will not have any impact on sound trade relations between the two economies.
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WNU Editor: I do not know how long this will last. China is not only replacing the EU in the global supply chain .... China Fast Replacing Europe In Global Supply Chain (Forbes), but China also enjoys an unsustainable but massive trade deficit with the EU that was $164 Euros in 2019 (link here), and is projected to be even more in 2020.
I for one will not be surprised if in 2021 the EU will start to impose tariffs and trade restrictions on Chinese goods.
Update: China has also replaced the U.S. as the top foreign market for companies across Asia-Pacific .... China Beats U.S. as Top Market for Asia-Pacific Firms, HSBC Says (Bloomberg).
"I for one will not be surprised if in 2021 the EU will start to impose tariffs and trade restrictions on Chinese goods." - WNU
ReplyDeleteGawsh, are tariff's really called-for merely for a gigantic trade imbalance?
The US has a trade imbalance with China and Orange Man Bad imposed tariffs and the Left howled. The Left also salivated like Pavlov's dog, when they howled.
Method to Trump's China trade war madness: It's bad for America but good for him in 2020
"Tariffs make no sense economically but perfect sense if the goal is a crony capitalist kleptocracy where jobs and profits hinge on being nice to Trump"
- USA Yesterday
I don't see China's influence and trade surpluses waning at all. As long as China is able to fill the pockets of US and EU leaders and policy makers, one-way, advantage-China trade "deals" will continue.
ReplyDeleteEG: Biden is utterly compromised and a blackmail risk vis-à-vis China. And there's no doubt on my mind that China has the EU bureaucrats in the same bind.
Corruption has been the norm for decades.
what mind have you?
ReplyDeleteWell 3:09 you've removed all doubts about you being an idiot.
ReplyDelete