How to manage trade relations with China, with an eye toward achieving reciprocity, is the million-dollar question on both sides of the Atlantic. The question was on prominent display at the 15th European Union-China summit last Thursday, where the two economic giants once again agreed to avoid protectionism, at least on paper.
Trade between China and the EU rose to $556 billion in 2011, but grievances on both sides continue to weigh heavily on the relationship. At the summit, Chinese Premier Wen Jiabao complained pointedly about the EU arms embargo against China as well as Brussels’ refusal to grant China market economy status that would result in preferential tariff rates. The EU’s biggest complaints center on what it considers to be unfair trade practices, in particular the disparities between the two sides when it comes to open markets: As the European Chamber of Commerce in Beijing recently complained, while Chinese corporations can successfully shop in the EU for businesses or even strategic public goods, such as the Piraeus port in Greece or the Düsseldorf airport in Germany, European corporations trying to operate in China find that most companies, let alone public assets, are either off limits or not for sale. ...
To read the rest, sign up to try World Politics Review
- TWO WEEKS FREE.
- Cancel any time.
- After two weeks, just $11.99 monthly or $94.99/year.
Request a free trial for your office or school. Everyone at a given site can get access through our institutional subscriptions.
- Diplomatic Fallout: Bold or Not, Next U.N. Secretary-General Faces World of Pain
- After U.S.-China Climate Deal, India Feels the Heat on Growing Emissions
- The Realist Prism: Even After Midterms, Obama Faces Hard Choices on Energy, Climate
- As New Space Powers Emerge, NASA More Unreliable as Partner
- Global Insights: Hagel Launches New U.S. Defense Initiatives to Address Old Problems