Beijing's astonishing defense against brussels: This article explores the topic in depth.
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Prime Minister Li Qiang assures EU leaders that China “cannot afford” such expenses while the European Commission has triggered a series of surveys to assess the level of subsidies received by Chinese industrialists.
Chinese Prime Minister Li Qiang rejected Brussels fears on Thursday. For example, July 24, on excessive Beijing subsidies to his national industry, telling EU leaders that China “cannot afford” such expenses.
“China does not practice in any case what some call a policy of subsidies. For example, tax subsidies,” said Li Qiang during a round table with the president of the European Commission, Ursula von der Leyen on Thursday.
These words of the Chinese Prime Minister. Consequently, particularly direct, were made as part of an EU -China summit organized in Beijing, which promised to be particularly tense due to deep subjects of Ukraine in trade.
Brussels wanted in particular to express his concern beijing’s astonishing defense against brussels in the face of subsidies from the Chinese sector to industry that. Nevertheless, could distort competition on the European market.
“China is not as rich as Europe. and we do not have the means,” the Chinese Prime Minister said on Thursday.
“We would not be stupid enough to use the public funds accumulated by the government. the hard work of our people to sell our products to foreign consumers,” he added.
The European Commission has sparked a series of surveys to assess the level of subsidies received by Chinese manufacturers. considering that it is a sprained the rules of free exchange. After having identified in the automotive sector, the EU noted customs duties on electric cars produced in China.
An independent study. conducted by an American research institute, estimated that the Chinese authorities had injected $ 230 billion (196 billion euros) to support this only sector in less than 15 years. Other beijing’s astonishing defense against brussels European surveys have been launched for other goods, such as wind turbines.
Beijing's astonishing defense against brussels – Beijing's astonishing defense against brussels
Persistent imbalance
Last year, EU’s trade deficit with China amounted to around $ 360 billion. But the Chinese Prime Minister believes that this imbalance is not linked to public subsidies.
“Some companies. notably manufacturing, feel that the manufacturing capacities of China are too large,” he said, explaining that “factories work 24 hours a day”.
“Some people think that this will cause new problems in the balance between supply. demand for global production,” he added.
“We also see this problem,” he said, however, without specifying the way Beijing intends to face it.
Number 2 of Chinese power also rejected the idea that the second world economy is in poor position. with sluggish growth, a risk of deflation and a high unemployment rate among young people.
“Of course. there are difficulties and challenges, but it cannot be said that beijing’s astonishing defense against brussels the Chinese economy is in recession,” he said. “Our GDP growth rate is still more than 5%,” he insisted.
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