In a strategic move to rebalance China-EU trade dynamics, French Minister for Europe and Foreign Affairs Catherine Colonna is set to visit China for a two-day delegation on November 23 and 24. Invited by Chinese Foreign Minister Wang Yi, Colonna's visit underscores France's commitment to fostering strong bilateral ties amidst evolving global economic landscapes.
This visit follows a recent phone conversation between Chinese President Xi Jinping and French President Emmanuel Macron, where Xi emphasized the need for a fair economic environment for Chinese investments in France. Colonna's agenda includes discussions on cultural and scientific cooperation, as well as facilitating visas for Chinese businesspeople, aiming to create a positive impact on bilateral relations and address broader geopolitical challenges.
At the heart of these discussions lies the escalating trade dispute between China and the European Union, the world's largest trading bloc. France has been a pivotal player in initiating the EU's anti-subsidy investigation into Chinese electric vehicles (EVs), a move seen as an effort to enhance Europe's economic independence while maintaining access to China's vast market. However, China has criticized the EU's actions as protectionist, raising concerns about the potential for a trade war that could have far-reaching consequences for the global economy.
The European Commission's anti-subsidy probe, spearheaded by Paris since September, aims to prevent the flooding of the European market with over-subsidized Chinese EVs, which French Secretary of State for European Affairs Laurence Boon defended by stating, \"We won't let our market be flooded by over-subsidized EVs that threaten our companies.\" This stance highlights the delicate balance Europe seeks to achieve between safeguarding its industries and engaging in mutually beneficial trade with China.
As Colonna engages with Chinese counterparts, the focus remains on finding pathways to mitigate trade tensions and promote sustainable economic collaboration. The outcomes of this visit could play a significant role in shaping the future of China-EU trade relations, impacting businesses and economies across the globe.
Reference(s):
cgtn.com
