Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-314-750"
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"en.20120523.15.3-314-750"2
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"Driven for the last 30 years by annual growth in the region of 10% and oriented primarily towards exports, the Chinese economy will become the world’s most powerful economy by the middle of the century. The European Union, the largest trading power and the main destination for Chinese exports, has been affected by a deepening trade deficit, which increased from EUR 49 000 million in 2000 to EUR 168 900 million in 2010, coinciding with sluggish growth. A clear imbalance is thus apparent, which needs to be remedied.
Although China has, to some extent, lowered the trade barriers hampering access to its markets, there are still many obstacles: European firms cannot invest in China on the same terms as the Chinese can invest in Europe. Furthermore, the fact that intellectual property is poorly protected in China is increasingly deterring European investors. Out of all the goods infringing intellectual property rights seized by European customs officers in 2010, 85% came from the Chinese continent. In my view, a new framework for EU-China relations is essential. Europe’s approach should be to build partnerships based on the principles of reciprocity and fair competition, which are elements that help to calm trade tensions and promote shared growth."@en1
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