European Commission President Ursula von der Leyen announced she will demand “fair” competition for Europe with China during a meeting with Chinese President Xi Jinping later in the day in Paris. “We must act to guarantee that competition will be fair and not distorted,” she stressed, according to the text released hours before her tripartite meeting with Mr Xi and his French counterpart Emmanuel Macron. “China is currently making, with massive subsidies, more than it is selling because of weak domestic demand. This leads to an oversupply of Chinese subsidized products such as electric vehicles and steel” and “unfair trade practices”, he complained. “Europe cannot accept such practices, which distort the market and may lead to deindustrialization in Europe,” he insisted. In previous meetings with the Chinese president, “I have said clearly that the current market access imbalances are not sustainable […]
Source: News Beast
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