Dombrovskis in China: the mission on commerce, investments, cars | EUROtoday

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According to data gathered right here in Brussels, the vice chairman will journey first to Shanghai after which to Beijing. A summit assembly fully devoted to economics and commerce shall be held in the Chinese capital, with the goal of getting ready the subsequent EU-China summit scheduled for the finish of the yr.

Four matters are on the desk on this event: the macroeconomic scenario, commerce and investments, worth chains, and monetary companies.

The Asian nation has all of a sudden change into extra threatening in European eyes

Just check out the most up-to-date legislative measures which have come into power in China. In the area of some months, the Chinese management has handed a regulation devoted to worldwide relations that makes “national security” an important goal; intensive anti-espionage guidelines; in addition to new guidelines on the use of notably invasive information. Doing enterprise in the nation has change into harder and extra harmful.

In this context, the European Union is making an attempt a technique of danger discount in the direction of China, calling into query a few of the manufacturing chains. Simone Tagliapietra, economist at the Bruegel research middle in Brussels, notes: «European publicity to China is essential. For instance, releasing ourselves from China’s dependence on uncommon earths is difficult. To open a mine in Europe it takes eight to 10 years, 5 years with an accelerated examination of the file.”

According to data gathered right here in Brussels, Vice President Dombrovskis will need to clarify to his Chinese counterparts that the deterioration of the financial surroundings brought on by the most up-to-date legislative measures dangers being counterproductive. It will induce a decline in investments and imports on the European facet, to the detriment of each Beijing and Brussels. In truth, the European Commission will need to underline the mutual curiosity in having higher relations.