EU plans to give China more favorable treatment, and treat China as a market-economy, opening Europe to a flood of cheap Chinese imports of steel, solar, and countless other products.
China had long complained that the European Union lumped them in with other nations such as North Korea and Belarus by declaring them a “non-market” economy, which led to higher imports on many Chinese products over fears of import “dumping.”
Of course, those fears were well-founded, because China is not a market economy (the Communist Party exerts ultimate control), and China has regularly dumped cheap imports on countries around the world to gain market share and destroy manufacturing industries in competing nations.
Unfortunately, the European Union has surrendered to the increasing pressure from China:
As reported by Bloomberg, “European industries from steel to solar are bracing for a new set of tariff rules that may make it harder to fend off low-cost imports from China and other foreign countries. European Union governments are due on Monday to rubber-stamp the biggest revamp of the bloc’s method for calculating duties aimed at countering below-cost — or “dumped” — imports. The move is a response to longstanding Chinese government demands for more favorable treatment while stopping short of saying those shipments are fairly priced.”
China is playing other countries
China’s government is playing a clever and ruthless game. While they restrict foreign ownership, violate trade rules, and impose effective protectionist policies, they effectively speak the language of globalism – pretending to be committed to “free trade” and “globalization.”
This fools the leaders of numerous Western countries – though not the United States lately – who cave in to China’s demands and betray the workers of their nations.
China pushes other countries to play by rules they aren’t willing to abide by themselves.
That’s why Europe opening the door to more cheap imports from China is a big mistake, and one they will live to regret.
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