The opinion flags the 50th anniversary of China-EU diplomatic relations next year, saying that “China is ready to work with the EU to seize opportunities and meet challenges to pave the way for the next 50 years of China-EU relations and contribute our share to global peace, stability and prosperity.”
In October the EU slapped new tariffs on electric vehicles imported from China for the next five years, after an eight-month investigation concluded that Chinese manufacturers benefit from massive government help enabling them to undercut EU automakers on price and threatening European jobs.
Beijing has slammed the duties describing them as protectionist and unfair. China’s Commerce Ministry has also launched anti-dumping investigations into European exports of brandy, pork and dairy products.
Cai does not mention these disputes explicitly in the opinion in which he said that set against the tumultuous geopolitical outlook “European friends are paying close attention to China’s economic prospect and the future of China-EU cooperation”.
“It is hoped that the two sides can properly handle economic and trade frictions through dialogue and consultation to avoid a trade war,” he wrote, adding: “This is in the interests of both sides and the world.”
The intervention comes as the second US administration of Donald Trump prepares to take office next month, with both the EU and China targeted by the former US president for new tariffs.
Despite what Cai described as issues of insufficient domestic demand and pressures on employment and income growth, he said China is confident that economic growth targets set for 2024 will be achieved, and that the fundamentals of China’s long-term economic growth remain unchanged.
From the perspective of industry and technology, he wrote, “China is accelerating the development of new productive forces, with new technologies, industries, business formats and models emerging continuously” and is “ready to share the development opportunities with Europe and the wider world”.
He touted China’s lifting of all restrictions on foreign investment in the manufacturing sector and visa-free policy for 38 countries, including 24 EU member states.
“Going forward, China will continue to expand high-level opening up, align with international high-standard trade rules, introduce more voluntary and unilateral opening up policies, and expand a globally oriented network of high-standard free trade zones,” Cai wrote.
With the world entering a period of turbulence and transformation, according to Cai, “China and the EU, as two major forces driving multipolarity, two large markets supporting globalization, and two great civilizations advocating diversity, have no fundamental conflicts of interest. There is far more consensus than divergence, and far more cooperation than competition.”
“This makes us partners not rivals.”
This remark picks up on an EU summit last summer after which EU leaders described China as a partner, competitor and systemic rival.
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The EU is walking a delicate tightrope in respect of its China relationship, as it balances the instinct of some member states to protect its trade from subsidised and effective Chinese markets, against that of others keener to safeguard existing Chinese foreign direct investment and to attract more, as reported.
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Publish date : 2024-12-20 01:24:00
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