Yesterday the 10th China-European Union summit , dedicated to trade and economic issues, was held in Beijing. This year, trade between China and the EU will reach a record value of $446 billion, but Europeans are not happy about this - their trade deficit with China will reach 253 billion. Brussels is seeking a revaluation of the Chinese currency in order to reduce the flow of goods from China. Beijing is proposing that the EU lift restrictions on the export of high-tech products to China in order to expand its supply. Yesterday, Chinese Premier Wen Jiabao said that the parties agreed that the trade imbalance must be eliminated, and agreed to create a high-level group to resolve this problem. The EU delegation, led by European Commission President Jose Manuel Barroso, was received yesterday by Chinese President Hu Jintao. Mr. Barroso also met with 52-year-old Li Keqiang, who was elected in October to the standing committee of the Politburo of the Communist Party of China. In five years, this promising politician may take the chair of prime minister, or even chairman of the People's Republic of China. Li assured the guest that China "will not deviate from the path of peaceful development" and will not abandon the strategy of "mutual benefit and common gain." In response, Barroso emphasized the “particular importance” of bilateral relations against the backdrop of globalization, defining their development as a “strategic goal of the EU.” He noted that "China's development is an opportunity for the whole world, not a threat."
Katerina LABETSKAYA
China and Europe will fight the imbalance • Vremya novostej • RIMA — Russian Independent Media Archive
