EU plan to balance economic ties with China
The bloc has set out 10 points to achieve more reciprocal exchange and limit threats from Chinese cyber-attacks and SOEs
Brussels — The European Commission set out a 10-point plan on Tuesday for more balanced economic relations with China, urging EU leaders to back its ideas to curb Chinese state-owned enterprises and increase their guard against cyber-security threats. The action plan marks a shift in the bloc’s stance towards its top trading partner and will be put to EU leaders to discuss at their next regular summit meeting in Brussels on March 21-22 — before an EU-China summit on April 9. The commission, the EU’s executive, said the EU should co-operate more with China in areas such as climate change and peace, but should also push for a more reciprocal economic relationship and take steps to protect its industry. The EU shares many of the US’s concerns over Chinese market distortions, overcapacity and technology transfer. But it has avoided taking sides in a multi-billion dollar trade war between Washington and Beijing. Europe has also been increasingly frustrated by what it sees as the slowness...
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