The EU needs China more than it needs the US

There was a time when the US was the most important trade partner of the EU. As American President Obahma meets the new Chinese leader Xi Jinping in Washington, business leaders in the City of London are openly saying that London needs China more than it needs the US as its main trading partner, and are asking what on earth possesses the European Commission to talk of introducing trade tariffs against Chinese goods?
Many have been predicting the Asian Century, but it has arrived faster than expected because of the global crash. This is a huge opportunity for London, if it gets its act together quickly.
China need to find a home for over £100billion of investment capital, is seeking to build partnerships and develop its trade relations with the West.
The EU’s tariff on photovoltaic cells produced in China send out all the wrong messages, and is once again an indication of the mindless bureaucrats of the EU putting their flawed ideology before sensible pragmatic decisions. The West needs to produce electricity from sunlight, at the least possible cost. Why should European business leaders seeking to invest in solar energy not use the cheapest supplier of technology? Protectionist tariffs help no one.
The EU needs China, needs its investment and it’s know how. More importantly, it needs it as a friend and good neighbour. Paradoxically, China wishes for a strong and united European Union. The EU Commission needs to remember this, as China’s desire for a strong united EU might actually help them in the future.

Colin Stevens

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