EU has no intention to decouple
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. PHOTO: REUTERS
The European Union has no intention to decouple from China but needs to protect itself when its openness is abused, the bloc’s Executive Vice President Valdis Dombrovskis said, as both sides look to cool rising tensions over geopolitics and trade.
The bloc posted record bilateral trade with China last year, but it is “very unbalanced”, Dombrovskis said on Saturday in a speech at the annual Bund Summit conference in Shanghai, citing a trade deficit of almost 400 billion euros ($426.08 billion). Citing the bloc’s trade deficit as an example, he added “the EU also needs to protect itself in situations when its openness is abused.”
Published in The Express Tribune, September 24th, 2023.
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