‘Rebalancing' needed in China-Europe relationship, chamber president says
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The president of the European Union Chamber of Commerce in China – the chief non-profit organisation advocating on behalf of the continent's businesses – has said the relationship between Beijing and Brussels has reached a tipping point, encouraging the two to realign their collaborative model and distribute benefits in a more equitable manner.
Jens Eskelund said there is a strong perception among the European population that China is taking most of the spoils from bilateral trade, as the EU's manufacturing sector
struggles to compete with a glut of cheaper goods.
'When we look back at the past 50 years of the bilateral relationship, it has created enormous value for both sides,' Eskelund told the Post on the eve of the chamber's 25th anniversary. 'Chinese exports have created jobs and wealth in China, and given the average European higher purchasing power.
'Now the question is, if we are in a situation where very intense pressure from China leads to losses for European companies … then, of course it becomes, 'Hang on, why are we doing this?''
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The relationship between China and the EU has been fraught in recent years, despite continuous dialogue as both sides seek to avoid the sort of full-blown trade war being waged by US President Donald Trump.
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