The European Union’s trade commissioner on Monday called for a more balanced economic relationship with China, APNews reports.
Valdis Dombrovskis noted a trade imbalance of nearly 400 billion euros ($425 billion) and warned that China’s stance on the war in Ukraine could endanger its relationship with Europe.
At a speech at China’s prestigious Tsinghua University, Valdis Dombrovskis said the EU and China faced serious political and economic difficulties that could lead to a deterioration in their relations. He said:
The strongest, but not the only, headwind is the war in Ukraine and how China is positioning itself on the issue.
Dombrovskis travelled to China to co-lead high-level economic and trade talks with Chinese Vice Premier He Lifeng on Monday. EU leaders are concerned about the bloc’s growing trade deficit with China, which reached 396 billion euros last year. European Commission President Ursula von der Leyen recently announced an investigation into Chinese subsidies to electric car makers, saying the influx of cheap Chinese cars was negatively affecting the European market.
