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Mandelson urges Chinese co-operation
EU Commissioner Peter Mandelson has urged Europe and China to strike a “grand bargain” by agreeing to recognise each other’s commercial interests.
He said China must abide by world trade rules and be more open, while Europe should accept the challenge posed by China’s economic strength and learn to compete more effectively.
Speaking ahead of an EU-China trade conference in Brussels, Mandelson said Europe was looking for “a twenty-first century partnership based on converging values and economic interests”.
He said: “China sometimes talks as if it is at the edge of the WTO system looking in. But China is the system. Too often Europe’s businesses meet a Chinese wall rather than an open door.”
Brussels has accused China of dumping cheap leather shoes on the European market and has imposed temporary tariffs on imports. It is also examining other cases of possible trade distortion involving items such as plastic bags.
Mandelson said many European firms now use China as a low-cost manufacturing base to export to the rest of Asia, while complaining about the threat to jobs in their own markets from Chinese goods.
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