Editor in Chief: Moh. Reza Huwaida Saturday, August 17th, 2019

Chinese Prime Minister to Discuss Trade with EU Leaders

Chinese Prime Minister to Discuss Trade  with EU Leaders

BRUSSELS — China’s prime minister was meeting top European Union officials Tuesday to discuss thorny issues including better access for European companies to Chinese markets and security concerns over high-speed 5G network technology.
The stakes at the annual summit are high with two-way trade between the EU and China worth around 575 billion euros ($648 billion) annually.
A senior EU official speaking on condition of anonymity because the meeting had yet to happen says that the EU wants “a more balanced financial-economic relationship” with Beijing and for European companies to have the same access to Chinese markets as Chinese businesses have to Europe’s markets.
Against a backdrop of trade tensions between the United States and both China and the European Union, European countries want to improve trade links with China while also applying pressure over its business practices.
EU Trade Commissioner Cecilia Malmstrom has called out China for “unfair trade practices” that highlight the challenges posed by its state-led economy, such as government subsidies intended to give its companies a competitive advantage. (AP)