EU – China

The EU’s trade deficit with China is approaching DKK 3000 billion with the EU trying to find the causes of the growing imbalance, according to Valdis Dombrovskis, Executive Vice-President of the European Commission. “The trade deficit has exploded in recent years. We need to look at what the causes are. And what we need to do something about,” he told a news conference in Beijing. According to Dombrovskis, the EU is more open to Chinese companies and goods than China is to companies and products from Europe. He stresses that the trade deficit is not a problem in itself. However, this must not be due to unequal conditions of competition and lack of market access. /ritzau/