The EU bears responsibility for the trade imbalance as it’s stopped businesses from exporting to China, Foreign Ministry spokesperson Wang Wenbin said on Wednesday, responding to von der Leyen’s call on China to open up access to its market.
Wang’s comment appeared to refer to restrictions on exports of the most advanced lithography tools, made by Dutch market leader ASML, that are used to print the most powerful computer chips.
He added that part of the profits generated from Chinese trade surpluses are earned by European companies with operations there.
"Trade figures are incapable of reflecting the share of interest between China and the EU in light of the integrated global industrial and supply chains.”
Von der Leyen on Tuesday said that European leaders “will not tolerate an imbalance in trade over the long term.”
In the months leading up to the summit, scheduled for Thursday, EU officials have been highlighting its trade deficit with China which had doubled in two years to a record €390 billion in 2022.
The original article contains 277 words, the summary contains 169 words. Saved 39%. I’m a bot and I’m open source!
This is the best summary I could come up with:
The EU bears responsibility for the trade imbalance as it’s stopped businesses from exporting to China, Foreign Ministry spokesperson Wang Wenbin said on Wednesday, responding to von der Leyen’s call on China to open up access to its market.
Wang’s comment appeared to refer to restrictions on exports of the most advanced lithography tools, made by Dutch market leader ASML, that are used to print the most powerful computer chips.
He added that part of the profits generated from Chinese trade surpluses are earned by European companies with operations there.
"Trade figures are incapable of reflecting the share of interest between China and the EU in light of the integrated global industrial and supply chains.”
Von der Leyen on Tuesday said that European leaders “will not tolerate an imbalance in trade over the long term.”
In the months leading up to the summit, scheduled for Thursday, EU officials have been highlighting its trade deficit with China which had doubled in two years to a record €390 billion in 2022.
The original article contains 277 words, the summary contains 169 words. Saved 39%. I’m a bot and I’m open source!