While much of the focus in this country is on how one of our largest trading partners is taking unfair advantage of America through its artificially weak currency and a variety of trade barriers, we are certinly not the only ones who are feeling shortchanged. Other regions and nations have also been raising Cain over the persistently lopsided commercial relationship that exists with the world's third largest economy. In "EU Clashes with China Over Trade 'Barriers’ to Rival Firms," The Telegraph reveals that Europe is turning up the heat in its dispute with the Asian nation over unfair trade practices.
China and Europe are entering into a destructive trade war as EU officials vow to “get tough” over China’s bureaucratic barriers against foreign investment and trade.
The EU, China’s largest single trading partner, is rapidly running out of patience with China’s continued refusal to create a level playing field for EU firms.
Leading European businessmen claim Beijing has violated its trade treaty commitments to increase protections for its domestic firms.
The European Chamber of Commerce in China found that almost 40 per cent of members believed the business climate in the country would worsen in two years.
Jacques de Boisseson, the Chamber’s president, said EU businesses in China would “vote with their feet” if Beijing continued to frustrate their operations. He said: “I’m worried about rising protectionism — on both sides — because we see this as a vicious circle. If you start playing that game it is very difficult to control.
“We are trying to say to the Chinese government and the EU authorities, 'Don’t give reasons for protectionist sentiment to rise. The more unfairly you are perceived to be behaving, the more reasons you will give for the other side to retaliate.”
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