Can joint ventures fix China’s trade imbalance with the EU and US?
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Huo Jianguo, former head of a think tank under China’s Ministry of Commerce, suggests that encouraging Chinese companies to establish joint ventures abroad is crucial to addressing China's trade surplus with Western countries. He expressed concerns about China's trade surplus during a round table event on 12 Oct 2024, stating that joint ventures could help balance perceptions of trade deficits. The EU's trade deficit with China reached a record €396 billion (US$433 billion) in 2022, decreasing to €292 billion in 2023, but significant imbalances remain. Huo emphasized the importance of maintaining dialogue with trading partners and stimulating foreign investment. Yi Xiaozhun, former deputy director of the WTO, noted that China's strong exports result from its integration into the global value chain, not from subsidies. He called for discussions to address trade imbalances rather than escalating trade wars.
#China #Trade #JointVentures #Eu #Us #HuoJianguo #YiXiaozhun #TradeSurplus #ForeignInvestment #Wto
https://www.scmp.com/news/china/diplomacy/article/3282106/can-joint-ventures-fix-chinas-trade-imbalance-eu-and-us
South China Morning Post /
npub1x2…knuvq
2024-10-12 09:48:05
Author Public Key
npub1x2q0x7w5tqx0x3j9tdvkvqmetarpr8axhpjq7qw5xxrcysdwtrzssknuvqPublished at
2024-10-12 09:48:05Event JSON
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"content": "Can joint ventures fix China’s trade imbalance with the EU and US?\n==========\n\nHuo Jianguo, former head of a think tank under China’s Ministry of Commerce, suggests that encouraging Chinese companies to establish joint ventures abroad is crucial to addressing China's trade surplus with Western countries. He expressed concerns about China's trade surplus during a round table event on 12 Oct 2024, stating that joint ventures could help balance perceptions of trade deficits. The EU's trade deficit with China reached a record €396 billion (US$433 billion) in 2022, decreasing to €292 billion in 2023, but significant imbalances remain. Huo emphasized the importance of maintaining dialogue with trading partners and stimulating foreign investment. Yi Xiaozhun, former deputy director of the WTO, noted that China's strong exports result from its integration into the global value chain, not from subsidies. He called for discussions to address trade imbalances rather than escalating trade wars.\n\n#China #Trade #JointVentures #Eu #Us #HuoJianguo #YiXiaozhun #TradeSurplus #ForeignInvestment #Wto\n\nhttps://www.scmp.com/news/china/diplomacy/article/3282106/can-joint-ventures-fix-chinas-trade-imbalance-eu-and-us",
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