ChinaTradePolicies

ChinaTradePolicies - October 25, 2006 China Trade Policies...

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October 25, 2006 China Trade Policies Draw a Warning From Europe By JAMES KANTER International Herald Tribune PARIS, Oct. 24 — The European Union told China on Tuesday that it could face barriers to its booming exports like clothes, shoes and electronic goods if it did not work toward creating a two- way street for global commerce. Disputes not resolved through negotiations could lead to litigation at the World Trade Organization “to ensure that obligations are met and rules enforced,” the union said in a newly issued policy paper on trade relations with China. A large and growing trade deficit is a sign of looming problems between the sides, European officials said. While Chinese exports to Europe during 2005 were worth 158 billion euros ($198 billion), European exports to China were worth only 52 billion euros ($64 billion), the paper said. Europe also called on China to allow the value of its currency to rise to cool the demand for Chinese goods in Europe, and to make European products more attractive to Chinese buyers. “There is a growing risk that the E.U.-China trading relationship will not be seen as genuinely
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