China must understand current trade situation with EU is unsustainable | Michał Baranowski
AliExpress was hit with a record €550 million fine from the European Union on Monday over trading illegal or unsafe goods and shipping them to the bloc. But a growing concern is also the gaping trade deficit between Beijing and the EU.
“It’s not only already a €1 billion per day. It’s also growing. Our exports to China are falling, our imports are growing,” Michał Baranowski, Polish Deputy Minister of Economic Development and Technology, told TVP World, pointing out that the safety of the products shipped to Europe is also a concern.
“Our proposal is that China will limit their trade deficit on their own, perhaps also modify the exchange rate because they do need to understand – and I think the Chinese side does understand – that current practices are unsustainable,” Baranowski said.
Join TVP World’s Klaudia Czerwińska and her guest as they explore what will happen if Beijing does not adjust its posture by October, what other measures the bloc can take to protect businesses within the EU, as well as when the next sanctions package against Russia is expected to be passed.
Chapters:
00:00 EU-China trade tensions and regulatory response
03:24 Trade deficit, competitive pressure from China, and their impact on Polish industry
06:18 Shifting European consensus regarding policy toward China
07:21 EU sanctions on Russia and importance of unity within the bloc
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