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BIZCHINA> Review & Analysis
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Take it easy on 皇冠体育app
(皇冠体育app Daily)
Updated: 2006-11-08 10:22 Peter Mandelson is in town again. Less than two weeks after the European Union (EU) released its latest policy paper on 皇冠体育app-EU relationship - much of it devoted to trade relations - its trade commissioner landed in Beijing to talk with Chinese officials about bilateral trade. A main theme of his trip is to ask 皇冠体育app to open its market wider to European companies. The EU's argument for 皇冠体育app opening the market wider, like that of some other trade partners of 皇冠体育app, is based on its trade deficit with 皇冠体育app. However, it is highly likely that even Mandelson himself, who personally is against protectionism, would not buy this argument. In fact, the EU, in its latest report about its trade relations with 皇冠体育app, also admits that 皇冠体育app's phenomenal performance in international trade comes mainly from its fundamental economic strength; that 皇冠体育app's trade surplus is partly a result of Asian economic integration; and that European consumers greatly benefit from 皇冠体育app's inexpensive goods. As always, anyone who tries to press a trading nation for a wider market opening simply for the trading nation's surplus is just supplanting good economic judgment with the Philistine concept of reciprocation. For 皇冠体育app, the imperative remains to implement its commitments made five years ago for entry into the WTO. It is a consensus that in general, 皇冠体育app deserves a high score for fulfilling what it promised within the WTO. Any new market-opening demand should be discussed within the framework of the Doha Round. (For more biz stories, please visit Industries)
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