EU-China Trade Deal Is Europe’s Chance to Break Free from Toxic TTIP…(Not The USSA!!)
SputnikNews.com
16.03.2016
Granting China “Market Economy Status” is an opportunity for Europe to rebalance its trade away from a detrimental dependence on the US, Shi Zhiqin wrote in The Diplomat.
China’s demand to be granted Market Economy Status (MES) as a consequence of its accession to the World Trade Organization (WTO) and market reforms is an opportunity for Europe to re-orientate its trade towards the East, Shi Zhiqin of the Carnegie-Tsinghua Center for Global Policy wrote in The Diplomat on Tuesday.
While China is recognized as a market economy by more than 80 economies including Russia, Brazil, New Zealand, Switzerland and Australia, some EU countries have reservations about granting China the status, citing fears about European jobs being put at risk of China is allowed to export to Europe without import duties which push up the prices of goods.
Those fears have been stoked by the US, which is against granting China MES. In December US officials warned Brussels that the status would amount to “unilaterally disarming” Europe’s trade defenses against China, the Financial Times reported.
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